and budget will not pass. Then government has no power to borrow money from Federal reserve so it would shut down. Government can not pay military, welfare and spending.
Of course, you can say government needs not debt limits but that will require law changes.
Without a debt limit, once investor perceives that debt will rise without limit, US dollar will tank that drags down stock market and cause high inflation.
The fiscal cliff is a Show, in essence.All OBM wanted is to save face by increae tax on richs in exchange for middle class tax increase. Middle class tax increase IS THE agenda, not tax on riches.
You can not tax on riches, they will move money overseas and shelter their assets.
But rest assured, tax rise will not save government finance if there is no restructuring of government and its spending. So debt limits will be increased, middle classes will be taxed increasingly and money will be printed to cause high inflation.
Just watch. This is a show of century.You know when the end game start? Interest Rate rises....
LOL
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