🟡NEW: Some Republicans like Sen. Rick Scott and House Budget chair Jodey Arrington back prioritizing federal payments if the US defaults.
But it likely won’t stave off a default’s worst consequences. It’d also amount to a possible 25% spending cut
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Scott’s three-page prioritization bill:
- Bondholders
- Social Security/Medicare
- US military & Coast Guard salaries
- Veteran benefits
Experts told me its feasible to pay creditors, but big question mark on the rest since it’s on separate system
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Prioritization also likely to cause headaches for Republicans.
GOP budget expert : “Chinese bondholders get paid before border security. The attack ads write themselves”
Senate D aide: “Rick Scott can’t help himself, but he keeps helping us”
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Republican Sen. Kevin Cramer is a cosponsor of Scott’s bill.
On skepticism of prioritization: “I think the reluctance is, if somebody comes up with a plan that makes sense for too many voters, they might opt for that”
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Straight out of trumps playbook. He doesn’t pay his vendors either. Only way that he can get something else out of them other than the job that they did.
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