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There are few things any person or entity can ever do that soil their reputation more than not paying a debt that is owed.
Failing to pay our debts is not an 'option'
What to do about future expenses, future borrowing and future revenue streams can all be reasonably discussed.
None of that changes the fact that we did borrow, do owe, and must pay our existing debts.
There is no cut possible that would allow us to pay all of our debts in August 2011 without raising the debt ceiling.
Having out credit downgraded doesn't help us in any way.
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