CNNW CNN Newsroom July 26, 2011
for post august 2nd if no plan is agreed to. if the treasury couldn't meet its obligations, a bill being circulated would prioritize payments, social security checks and paychecks for troops. everything else would be covered if possible with cash on hand or put off until we can take on more debt. two main default avoidance plans remain on the table right now. speaker boehner's plan would raise the debt ceiling twice, this year and next, with spending cuts now and an election year overhaul of the tax code and entitlements. in the senate, majority leader reid is pushing $2.7 trillion i...
Source: archive.org