Let’s ask an ugly question: What if Treasury simply ignores the debt limit?
Now to be clear, as of the 10th this hasn’t happened.
But that’s damn close – some $16 billion. And the auctions continue, including those yesterday which have not yet settled.
But the question remains – what if the Administration simply ignores the law?
Is there any recourse available in that circumstance? Not that I can see; there is no “or else” in the law!
So what we have are not laws, they’re suggestions. And I “suggest” that you keep a close eye on the Treasury Daily Statement, which you can find here – that is, if its truthful (and again, what recourse exists if it is not?)