MAGA Republicans are demanding a default on our nations debt if they don’t get their $2 trillion in spending cuts.
Why would there be a default?
Monthly revenue is more than enough to pay interest and redeem maturing bonds.
What happens in a default?
Bills don’t get paid. Defense contractors, Social Security, Medicare, Military, Civil Service
A default is when debt goes unpaid. Nothing to do with defense, Soc Sec etc.
The US Credit Rating goes in the tank, StockMarket crashes
It'd be awful if Biden caused that.