The Debt Ceiling Theater Script

January 31, 2013

Mish recently prepared a quick and easy script for all involved members to follow in case they forget their role in this cherade:

1. Obama will chastise Congress with talk of financial Armageddon if Congress does not raise the debt ceiling.
2. Congress will pretend to hold the president hostage
3. The secretary of the Treasury will get into the act with its own version of the default debate
4. Perhaps a few payments on non-critical budget items will be temporarily skipped
5. Wall Street will feign panic
6. Constituents will pressure Congress to approve a new debt ceiling
7. Congress will raise the ceiling with another useless warning about next time

Next time: Repeat 1-7.

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