CRS On The Debt Limit

What with all the goings on about the need to raise the debt limit and the implications for doing so, or not, the Congressional Research Service has issued a report entitled The Debt Limit:  History And Recent Increases.  It doesn't forecast what would happen if the debt ceiling was not raised.  It does note that the Social Security Trust Fund, among other government accounts, is the owner of a whole lot of bonds issued by the government in exchange for cash from social security tax collections.  There may be something to Obama's statement that he can't guarantee the checks to seniors going out after the beginning of August if there is a default.  Anyone following the dance of the debt limit as it has been performed by Congress and the President over the years would find this interesting.  [MG]