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Azdraik
reply to post by Dianec
Ok the current law is as follows.
"The face amount of obligations issued under this chapter and the face amount of obligations whose principal and interest are guaranteed by the United States Government (except guaranteed obligations held by the Secretary of the Treasury) may not be more than $14,294,000,000,000, outstanding at one time, subject to changes periodically made in that amount as provided by law through the congressional budget process described in Rule XLIX [1] of the Rules of the House of Representatives or as provided by section 3101A or otherwise."
There is an actual number there $14,294,000,000,000. By suspending that section of the code that means it does not exist in the eye of the law now. Which means that $14,294,000,000,000 might as well be 999,999,999,999,999, because it no longer exists.
Come 2-7-14 per the resolution they will figure out what to pay and what not to, but until then play ball.edit on 10/16/2013 by Azdraik because: (no reason given)