instead of the word debt because they may just agree with them that there wouldn t actually be a debt default. it is unclear, we literally don t know what would happen because it never happened bef e before. so a legal authority is not all obvious. so there is a question, for the treasury department, to decide if we pay off the bond holders, but not our medicare bills. we re going to pay back the banks, but not china, or social security checks. that being a legal question. the political optics of republican s forcing the countr into paying japan before china, is dubious. the second question is if the computer systems can do that. obviously, we computerize the checks going out, we re sending about 100 million of them march, 100 million. so we don t know if we can re-program the computer systems
for republicans. so what about this point, ezra, that the president, the federal government could easily meet its obligations on actual debt payments through bonds and that sort of thing. but it would be the spending, the discretionary spending that they would have to cut under these circumstances. so there wouldn t ever be, many republicans insist they wouldn t ever be a realistic prospect of default in this. and that is why the president uses the word obligations, instead of the word debt because they may just agree with them that there wouldn t actually be a debt default. it is unclear, we literally don t know what would happen because it never happened before. so a legal authority is not all obvious. so there is a question, for the treasury department, to decide if we pay off the bond holders,
with house prices. that takes away any middle class deductions for homeownership and health care. we literally don t know what the romney plan is. the other thing we say when they say this is an endorsement of their prestigious, the romney plan was only about a month that plan. it was before that to reduce taxes for the rich. when we talk about who did what, when romney started to make some gains from the dismal position he was in, he did it by abandoning his positions. one other point i want to note you and i have this interest, i did want to ask the romney people smaller simpler smarter except the military. the biggest single area of expenditure in the federal government, smaller simpler smarter, we have to have more world war i ships. i don t know how that fits. it was simpler, not smaller and smarter. we didn t just elect a president, a senate and a house.
that takes away any middle class deductions for homeownership and health care. we literally don t know what the romney plan is. the other thing we say when they say this is an endorsement of their prestigious, the romney plan was only about a month that plan. it was before that to reduce taxes for the rich. when we talk about who did what, when romney started to make some gains from the dismal position he was in, he did it by abandoning his positions. one other point i want to note you and i have this interest, i did want to ask the romney people smaller simpler smarter except the military. the biggest single area of expenditure in the federal government, smaller simpler smarter, we have to have more world war i ships. i don t know how that fits. it was simpler, not smaller and smarter. we didn t just elect a president, a senate and a house. the democrats, despite all predictions, picked up seats in
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