4 ms·
The US did not come within one day of defaulting. It came within a day of hitting the debt ceiling, which is a very different thing. Despite the way it was port
by jancona 15y ago
The US did not come within one day of defaulting. It came within a day of hitting the debt ceiling, which is a very different thing. Despite the way it was portrayed, the government could have limped along for days our weeks without defaulting.
(I'm not saying that would have been a good thing--just that the idea of August 2nd as the day default would have occurred is incorrect.)
- j_baker 15y agoWe hit the debt ceiling back in May. We've managed to stay afloat due to some accounting tricks at the Treasury. http://www.washingtontimes.com/news/2011/may/16/federal-government-hits-14t-debt-limit/ http://www.washingtontimes.com/news/2011/may/16/federal-gove...