Here is your ongoing reminder that it is perfectly legal (though of course highly undesirable) for the US to default on its debt. It has before and it has even gone to the supreme court even after the passage of the 14th amendment.

However not raising the debt limit doesn’t mean we default. It just means you have to pick something to cut. Unless you want to tank the entire global economy you cut something besides the debt.

#debtceiling #debt #history