If the federal government, if we don't raise that debt ceiling, they're prevented from raising issuing new bonds. That way they can actually sell those bonds to fund Social Security. So There's no reason at all, none, zero, to ever default on any obligation. And certainly a true debt default is just Defaulting on our debt, on our interest payments and there's no chance for that happening whatsoever. So there's been an awful lot of scaremongering. (19:12–19:18)
CLAIM
Asserts that there is no reason for the U.S. to default on its obligations.
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