It's called soft default - like Dubai did. Can't hook a tow truck to a country - so creditors are stuck. @jonathanweisman
True “@morningmoneyben: The idea that US can seamlessly pay some bills not others in a debt ceiling breach is flat out laughable."
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@jonathanweisman@morningmoneyben WE did it in 1996. Where were you? -
@abdulkowalski@jonathanweisman we did no such thing -
@morningmoneyben@jonathanweisman We have done it many times. Do your homework. http://historymusings.wordpress.com/2011/04/08/how-many-times-us-history-government-shutdown-budget/ … -
@abdulkowalski@jonathanweisman you are confusing a budget shutdown with default. Entirely different. We have never defaulted. -
@morningmoneyben Shutting down Govt. is not default. We take in enough to pay the interest on the debt. You are confused. -
@abdulkowalski you are incorrect
End of conversation
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