According to recent reports, Republican members of the House are working on a backup plan in the event that negotiations to raise the nation’s borrowing cap, which is expected to be reached the next week, are unsuccessful. In the plan that is presently being drafted, Republicans will explain how they believe the Treasury ought to prioritize payments in the event that the statutory limit on the national debt is reached. According to individuals who spoke with the Washington Post, they will most certainly place a major emphasis on Social Security, Medicare, and the armed forces. “The application of extraordinary measures…
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