irony
it's kinda funny. the looming default means we don't pay treasury bills the day they mature. the last time this happened was 1975 or so. it affected $122m worth of t-bills. meh you might say. but the rate we had to pay on treasury bills went up by 0.6 percentage points. for a very long time. over the course of which we paid billions extra in interest. so yeah, even the threat of defaulting is a big deal. so what the fuck are them idiots thinking? my best guess is higher interest rates will mean we'll be forced to borrow less. cause we won't be able to afford the extra interest payments. and hence smaller government. ding! see? it all makes sense. higher t-bill rates are good for the rich. cause they'll make money faster. assuming of course we pay the penalties associated with making late payments. which the 14th amendment and the supreme court will ensure we do. another large beneficiary of higher rates is china. and ironically, social security. cause social security surpluses are loaned out by law in the form of t-bills. which will undoubtedly allow bleeding heart libtards to expand it. heh. so much for smaller government. dumbasses.