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taxpayers stuck in the middle. democrats and republicans are fighting over tax and spending as they try to negotiate raising the debt ceiling. both sides are digging in their heels or conditions to reach an agreement. a looming deadline could put the u.s. treasury in depaul roughly a month from now. let s talk about it with steve morris. if congress doesn t vote to raise the debt ceiling is it armageddon, steve? i don t think it is. it s not something we want to see. we would like to see this resolved. but i want to assure all of your viewers who own treasury bills and government security that those are safe. there will not be a default. the chances after detaught are close to zero. the government can continue to pay some of its bills even after the debt limit expires. some government agencies would have to close down. you would see a third of government agencies close down.

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