As the date that the US could default on its obligations grows closer, the Treasury Department must prepare for an unprecedented situation figuring out which bills to pay with the money it has on hand if Congress doesn't act.One option that Treasury officials have seriously contemplated in past debt ceiling dramas is prioritizing payments, which would entail satisfying certain bills before others.
#effectively #administration #federal-government #president-joe-biden #consequences #house-republicans #obligations #treasury-department #senior-fellow #treasury-secretary-janet-yellen
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