This article isn’t really about the govt. shutdown, but, rather about the other upcoming fight, the debt ceiling.
Reuters has this to say….
SEOUL/BEIJING (Reuters) – Unless the U.S. Congress settles a political showdown to raise the country’s debt ceiling in coming weeks, it will be left But America’s main creditors in Asia may be the least of its worries.
The creditors – China, Japan and other Asian governments – have a hoard of U.S. Treasuries in their $5 trillion cache of foreign exchange reserves, the equivalent of almost a third of U.S. gross domestic product.
Uhmm, no. That’s factually incorrect. Failure to increase the debt limit will in no manner near us to defaulting on our debts. It’s a lie.
The US, continues to gain revenues with our without the debt limit increase. By law, the interest on our debt is paid first. We are in no manner in…
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