The last time they did this and just got near the default date, the global markets crashed and the banks permanently raised the interest rates they charged the US government. Those rate increases were permanent and they have cost the taxpayers $19 Billion a year in increased interest risk costs that they otherwise would not have to pay. A second visit to default land will create an even greater premium in interest that the tax payers will have to pay. And of course these additional costs are from situations where a default never occurred. If the country defaults, even for one day, the global financial system will crash as all debt instruments will have to be restructured. The economy will go into a depression, unemployment will skyrocket, and the government will be blocked in taking corrective measures since they would all increase the debt ceiling. While this calamity will create an apocalypse that will cripple the economy for a decade, the Freedom Caucus, which is funded by dark money, will be dancing in the streets. They will blame the pain on the Democrats and get even more votes to do even more damage. These guys are revolutionaries who know how to play the game.

The last time they did this and just got near the default date, the global markets crashed and the banks permanently raised the interest rates they charged the US government. Those rate increases were permanent and they have cost the taxpayers $19 Billion a year in increased interest risk costs that they otherwise would not have to pay. A second visit to default land will create an even greater premium in interest that the tax payers will have to pay. And of course these additional costs are from situations where a default never occurred. If the country defaults, even for one day, the global financial system will crash as all debt instruments will have to be restructured. The economy will go into a depression, unemployment will skyrocket, and the government will be blocked in taking corrective measures since they would all increase the debt ceiling. While this calamity will create an apocalypse that will cripple the economy for a decade, the Freedom Caucus, which is funded by dark money, will be dancing in the streets. They will blame the pain on the Democrats and get even more votes to do even more damage. These guys are revolutionaries who know how to play the game.

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