There are no easy choices when you’re $31 plus trillion in debt. From Bill Bonner at bonnerprivate research.substack.com:
Bill Bonner, reckoning today from Youghal, Ireland…
Did you ever have to make up your mind?
Pick up on one and leave the other one behind
It’s not often easy, and not often kind
Did you ever have to make up your mind?
Did you ever have to finally decide?
Say yes to one and let the other one ride
There’s so many changes, and tears you must hide
Did you ever have to finally decide?~ The Lovin’ Spoonful
Uh oh. Hard choices ahead. Yahoo Finance:
Time is running low to strike a deal…
Treasury Secretary Janet Yellen maintains that a deal needs to be reached and “it’s not an acceptable situation for us to be unable to pay our bills.”
Her first priorities if there is no deal by June 1 would include paying for interest on existing debt as well as making sure Social Security recipients and military employees get their checks on time, she said Sunday on NBC’s “Meet the Press.
“There will be hard choices to make about what bills go unpaid” if the talks fail or are too slow.
Paying the army was always the top priority in ancient Rome. If the soldiers weren’t paid (especially late in the empire when they were mostly mercenary armies of Germans and Slavs) they might turn on Rome itself.
