If the US fails to meet its financial obligations; career politicians will lose pay. You really think some of these jokers will risk losing some of their compensation and/or government benefits? What are they going to do - go look for a new job in the worst labor market in over 50 years? While it would be a fantastic exercise for them to go through...it ain't gonna happen!
It's all theater. An 11th hour agreement will see the debt ceiling raised, and taxes will remain static. Fed will be "signaled" to fire up the printing press in order to levy the unseen tax of inflation.
We're going to bend this can like Beckham.
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