For Want Of An "Or Else" (Treasury Debt Limit)


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?)

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