Treasury to Weigh Which Bills to Pay

[WestVirginiaRebel]

NY Times:

WASHINGTON — The Treasury Department is preparing to answer a question that it has dodged and rebuffed for months: If there’s not enough money for everyone, who is left empty-handed?

Officials said Wednesday that the department would address the issue later this week unless it became clear that Congress would vote by Aug. 2 to let the government borrow more money.

The outlines of the answer, however, already are clear. Officials have said repeatedly that Treasury does not have the legal authority to pay bills based on political, moral or economic considerations. It cannot, for instance, set aside invoices from weapons companies to preserve money for children’s programs.

The implication is that the government will need to pay bills in the order that they come due. President Obama has warned as a result that the government “cannot guarantee” payments of Social Security benefits or other popular programs. Officials also have disputed the assertion of some Republicans that the government could prioritize interest payments.

Several independent analysts estimate there is enough money on hand to pay the bills until Aug. 10. Treasury has declined to provide its own estimate.

“You’re basically running on fumes from midnight Aug. 2 forward,” the White House spokesman, Jay Carney, told reporters Wednesday.
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More like running on empty. And guess who has to pay for the gas?

[Evad]

You can bet on this, they will NOT pay the bills that are truly important.

The snail darter will live on but the soc sec recipient can starve.

This will be designed to cause the maximum pain and turmoil.

 

It's like the despicable local and state governments when they don't get their way, they whack fire, police, rescue, just to inflict maximum pain.