Friday, July 1, 2011

Did Treasury Just Strategically (Intentionally) Default?

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It sure looks like they did.

Yesterday.

Here's the DTS (daily cash statement) for Treasury.

And here's the problem with it:

Note that the pink line did not move much. In fact, it went down.

It should have gone up - a lot - because the "Trust Funds" (you know, Social Security and Medicare?) that you folks on the left keep bleating about being "money good" and "actual debt" had a coupon payment from Treasury due yesterday.

IT WAS NOT MADE.

IF IT HAD BEEN, IT WOULD HAVE BLOWN THE DEBT LIMIT.

MORE.

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