Section 4 of the 14th amendment states: The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, SHALL NOT BE QUESTIONED. So even though we have a debt ceiling. It really doesn't matter. We are still on the hook for monies owed for the public debt. So we have to pay interest on our bonds and other debt obligations even if the interest on the debt goes over the 'Debt Ceiling' This is really a big game to the idiots in DC. Pull off the cap and figure out how to reduce spending, and live with in your means Washington, just like the rest of us. Ooo, Amex just sent me a prequalified application for 25k Awesome! I'm going to Tahiti If they kick the can down the road a couple more times all this is going to do it to shake the global confidence in our currency more than it already is. As for me? I'm going to start buying water concessions in South America. It's going to be the next oil. Mark my words.
