Administration officials say that without legislation in place by the end of Tuesday, the Treasury will no longer be able to pay all its bills. The result could inflict significant damage on the economy, they add, causing interest rates to rise and financial markets to sink.
Executives from the country's biggest banks met with U.S. Treasury officials to discuss how debt auctions will be handled if Congress fails to raise the borrowing limit before Tuesday's deadline.
But White House press secretary Jay Carney said the administration did not plan to provide the public with details Friday on how the government would prioritize payments.


Read more: http://www.foxnews.com/politics/2011/07/30/washington-races-to-resolve-debt-crisis-amid-last-minute-political-jockeying/#ixzz1Tbc9Tv3A

Quote from: triffid on July 30, 2011, 11:06:53 AM
If we have a default market prices will crash.
If millions of SS checks dont go out as usual lots of people in power will be voted out of office next election around.We still don't know what will happen at this time.triffid

I'll just have to wait and see.  My landlord said if SSDI checks don't arrive at the bank, they and I could work out an arrangement.

@all who read this:
Many have looked at what triffid and I have written.  You may decide for yourself whether or not you want to buy extra food, say, more ammo for your gun---if you have one.  Or fuel for your generator---if you have one.
   If you have a running OU system, so much the better.

@triffid:
Good to hear that the 75W light bulb battery charger worked in theory and practice.  I was thinking of using a computer box cooling fan to ventilate the enclosure.  It would also take a lot of solar modules to break even in power output, if it's at all possible.  I'd say 35ea. for the bottom of the box I have now.

--Lee

Say, does that star spangled banner yet wave?  ;]

http://sports.yahoo.com/mlb/blog/big_league_stew/post/Video-Lily-Anderson-s-inspiring-national-anthem?urn=mlb-wp14271

Mags

Yes that flag will still wave!Americans rally around the flag in times of trouble.Right after 9/11 flags were flying everwhere here in america.So we are reminded what america stands for.One nation out of many nations.We are a diverse people from many nations.But united we stand.Against the world if need be.triffid

I read somewhere that the USA has enough cash in the system to pay its bills for two weeks or three if no deal is struck.Today out in public I heard people saying they were worried about their checks.I am worried too for the rest of my life.I am supposed to be retired for the rest of my life.I plan to at least live to be 91.triffid