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News analysis, case studies and informed comment on the challenges facing UK pension schemes, from Pensions Expert, a DG Publishing service

To put out, that there will have to be a default. do you believe the secretary of the treasury is lying? and do you have someone else who says we will not go into default? what will we pay in terms of cops against? suppose you're wrong? >> the white house is using political gainsmanship and wordsmanship. it depends on what the word default means. to most people it means you're not paying your debt obligations. and there is no way in the world that we would not have sufficient revenue to pay our creditors. now the president in his discretion in a government shut down or in a no-raise the debt c...

Everything else. so i reject your premise. >> which economist have you gone to that told you that the secretary of treasury was wrong yesterday that when he said u.s. receipts coming in go above what they have in the costs they have to put out, that there will have to be a default. do you believe the secretary of the treasury is lying? and do you have someone else who says we will not go into default? what will we pay in terms of cops against? suppose you're wrong? >> the white house is using political gainsmanship and wordsmanship. it depends on what the word default means. to most people it ...