Tuesday, January 15, 2013

A TEMPORARY GOVERNMENT SHUT DOWN WOULD NOT CAUSE A DEFAULT ON THE NATIONAL DEBT

Interest on the national debt is only 6% of the nation’s budget. Revenues to the federal government (2012: $2.468 trillion) do not cease in a government shutdown. We all still have to pay taxes, federal withholding from our paychecks continues and businesses continue paying taxes. So, the government has more than plenty of money to pay the interest on the national debt. Only “non-essential” services (why does government even have “non-essential” services?) would temporarily close during a government shutdown.

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