On Aug/3 the US owes $23 bln to Soc Sec recipients. According to Politico, only $12 bln is expected to come in that day.
We know that the US will not miss an interest payment on its bonds (due 8/15). For a week or two, will Treasury allocate to the rest - prioritize payments for example to veterans? We don’t know.
Nevertheless, this is a healthy exercise. Major world institutions see it as such. If there were to be a meltdown, it would have happened weeks ago.
Robert Craven
No comments:
Post a Comment