Fannie Mae-No Politics (FNMA)

[justradin]

Couldn't be further from the truth. It is illegal to not pay the bills first. The media won't report it as they like to support their man. But the US will not default. It will have to make cuts that the takers will find painful, and so that is being pushed off and pushed off. The interest is nothing compared to the billions taken in each month.

This line of reasoning is way off.

If U.S. Congress fails to lift the ceiling to allow the government to borrow more by Thursday, Washington may not have enough money to pay its bills, potentially leading to a default. That could sink the value of Treasuries — wiping out a big chunk of Chinese wealth in the process.