If I was POTUS, this is what I’d do TODAY. I’d tell the American people, and businesses, what’s going to happen.
First, we’re not going to default. Not Tuesday, not ever.
We have enough income to pay our creditors.
The 14th amendment demands that we pay them. We will.
What’s unclear is if we’ll have that income in the future, so we’ll need a savings account.
What this means to all of you is that until the congress sends me A CLEAN BILL TO RAISE THE DEBT CEILING THROUGH AT LEAST 2013, the only bills that will be paid by the Federal Government are the interest (and principal, where necessary) on the debt, and certain “emergency” services.
An example of an “emergency” service is providing sufficient funds to bring all of our troops home from overseas. Not just Iraq and Afghanistan. We’re going to close our bases in North Korea, Japan, and Germany, too. No American soldiers will be stationed anywhere but on American soil. All ships at sea will be called to their home ports. Most soldiers, sailors, airmen, and marines will be furloughed until this “crisis” is resolved.
No social security checks will go out until further notice. No funds will be provided to medicare or medicaid.
Government offices will be closed. National parks will be closed.
A small number of military personnel will be retained on duty to guard those facilities.
All remaining income will be deposited in a savings account.
This failure of congress to raise the debt ceiling will result in MASSIVE layoffs. There will be fewer people working, so there will be fewer revenues in the future. American MUST save any extra income in anticipation that congress will never solve its inability to negotiate a neutral, balanced solution to this problem.
I urge you to mail, email, or call your congressmen and women to urge them to put a quick end to this situation, but until congress resolves it I have no other choice. The full faith a credit of the USA is at stake.
Prepare for the worst.
That is all.