If you’ve ever been in default on a loan, a car loan, a home loan, a charge card – a situation many of us understand from first hand experience – then you know what the US is facing if August 2 comes and the nation defaults on its debts.
First off, that moment will come and go and nothing whatsoever will happen to any of us.
We will awaken to the next day and eat breakfast, sip coffee, get in our cars and fill up with gas, go to work, et cetera.
A few days after a default creditors wanting their money will ask: “So, how do we proceed? When and how much am I going to be paid?”
That’s about how complex the situation is. But the jokers in Washington want us to take it seriously.
What a joke.