Something I don’t understand about the debt limit… why are we talking about defaulting on debt? It seems that if we hit the limit, the federal government has to stop spending money, but they could keep paying off existing debt with new debt, no?
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Replying to @nsIAnswers
The government would have to not pay something that it's supposed to pay, given that expenses > income and the total amount of debt wouldn't be allowed to increase. It could default on other bills, though...

Oct 6, 2021 · 9:59 PM UTC

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Replying to @davidbaron @nsIAnswers
That said, better to just mint a platinum coin and trade it with the Federal Reserve in exchange for some bonds that the Fed holds, and then resell those bonds as though they were newly issued
Replying to @davidbaron
Yeah. Not saying that’s at all a good thing, but… avoids the worst constitutional crisis?
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Maybe? Some other defaults might violate laws too? On the other hand, if a branch of government has basically stopped functioning, maybe we need a constitutional crisis?
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