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Who Gets Paid First If the U.S. Hits the Debt Ceiling?
Bloomberg BusinessWeek: President Obama had plenty of strong statements during his lengthy press conference today. He said the country would face a “very deep recession” if Congress doesn’t raise the debt ceiling. He said Republicans are holding the country “hostage” and that they can’t just “wish away chaos.” But his words were squishier on one topic: whether he’d accept a deal that prioritizes which debts the U.S. will repay first.
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