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Posts tagged: Congress


A 100% accurate simulation of the consequences of playing chicken with the debt ceiling.

Photograph by Matthias Clamer/Getty Images

A 100% accurate simulation of the consequences of playing chicken with the debt ceiling.

First Rule to Avoid Default: Don’t Assume You Can Miss Oct. 17 and Avoid Default

What happens if we miss the Oct. 17 deadline? the disordered slashing of essential government functions would make the current shutdown look like a slow Sunday on the road to church.

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Printing bonds: even easier than minting trillion-dollar coins.

Photograph by Charles O'Rear/Corbis

Printing bonds: even easier than minting trillion-dollar coins.

Go Ahead, Buy the Obama Bond

With the federal government partly shut down and the footsteps of the debt ceiling clomping closer, the search is on for worst-case, last-gasp, what-if-we-have-to-ram-the-asteroid solutions. The latest of these is the “Presidential bond,” a.k.a. the “Obama bond,” a.k.a. this year’s...

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