(((JonathanWeisman)))Verified account

(4) The idea that Treasury *could* prioritize -- even if desired -- is fanciful & misunderstands federal financing requirements.

@TonyFratto I just spoke to a bunch of House Republicans who disagree with you. But you know that.

@StevenTDennis It's not a judgment call. If revenue comes in week 3, how do they pay benefits in week 1? That would require magic.

@TonyFratto Well, theoretically you could start shutting down govt a few weeks earlier.

@StevenTDennis .. Gov would have to voluntarily break contracts, as a policy decision and disobey Congress's direction to spend. It can't.

@TonyFratto No doubt govt would have to default on something. But argument is Obama could order interest, SS & soldiers to be paid 1st.

@StevenTDennis That's my point: Obama *can't* order anything paid on the 1st if Treasury doesn't have actual $.

@TonyFratto Sure. But he could order the priority, shut down everything else & grandma gets her check ASAP