I said it before and I’ll say it again: the US will default on their debt, possibly soon. The current government isn’t even trying to do anything to avoid this.
That’s actually the plan circulating around conservative circles now.
But they’re saying they can ‘selectively default’ debt issued to China as part of a trade rebalancing scheme, basically they charge China $2T in back tariffs and cancel that much in chinese held debt.
By canceling that much debt they can have the cbo mark their tax cut as balanced.
Nobody with a brain cell has explained to them why this is insane.
I said it before and I’ll say it again: the US will default on their debt, possibly soon. The current government isn’t even trying to do anything to avoid this.
That’s actually the plan circulating around conservative circles now.
But they’re saying they can ‘selectively default’ debt issued to China as part of a trade rebalancing scheme, basically they charge China $2T in back tariffs and cancel that much in chinese held debt.
By canceling that much debt they can have the cbo mark their tax cut as balanced.
Nobody with a brain cell has explained to them why this is insane.
this is no big deal, but defaulting on student loans is a shameful and immoral act. /s
ok its gonna tank the global economy but other than that it should be fine