government default

Despite the hype, there's little risk of a debt ceiling 'default'

Pete Kasperowicz, Washington Examiner

Mnuchin has made it clear he isn't a fan of legislation that would prioritize which payments get made and which don't if the debt ceiling couldn't be raised in time. But in reality, Treasury is already widely expected to forgo some normal federal spending in the event it can't borrow any more, in order to make sure it keeps up debt service payments.