Exactly!
As the shutdown continues into a second week, the public is starting to see the debt ceiling issue on the horizon. Unfortunately the facts have become clouded in half-truths and distortions created for political reasons. The goal is to get the public scared and thereby gain leverage. Here are the facts:
Fact 1: The first fact is that there is no reason for the US Government to default if the debt ceiling is not raised. Current payments on the debt are about 1/8th of what the government brings in each year. It is possible a debt payment could be missed if the government spends the money on other things (which may have already been done), causing a cash flow problem. But this is kind of like a family spending all of the income from a month on a vacation before paying all the credit card bills. There is plenty of…
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