Quote:
Originally Posted by kane
The main worry they were talking about is that if we can't pay the bond holders that will destroy our credit rating, send interest rates up and it cold cause a domino effect that could spread all over the world.
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Constitutionally, and upheld by the courts, the US must pay it's debt obligations.. The US will not default on anything... However, it could mean that services etc. aren't paid for so that they can pay those obligations.
Check out what happened in 95/96 when the same sort of thing basically happened.