It's not yet clear if the U.S. Treasury has the ability to pick and chose who gets paid and who gets stiffed if it the $14.3 trillion debt ceiling isn't raised and it runs out of credit.
The government doesn't have flexibility like the average household might, says Jay Powell, a former Treasury undersecretary under President George H.W. Bush and a fellow at the Bipartisan Policy Center.
A federal judge sided with a historian, today, ordering that secret grand jury testimony by Richard Nixon be released publicly. Nixon testified before a grand jury, after he resigned and after he was pardoned by President Gerald Ford.
U.S. District Judge Royce Lamberth granted a request by historian Stanley Kutler, who has written several books about Nixon and Watergate, and others to unseal the testimony given on June 23 and 24 in 1975.
In Egypt, survival and the number 7 are inextricably linked. It's on the seventh day that a child's existence is first formally acknowledged to the world in a ritual that dates back to Pharaonic times.
But the ancient tradition — called the Sebou — has taken on new and not always happy turns since a revolution earlier this year ousted longtime President Hosni Mubarak.
If you've ever looked at a stack of bills and realized you owe more money than you have in the bank, you can understand the position the U.S. government will soon be in, if lawmakers don't agree to raise the debt ceiling.
The Obama administration would then face the same decision as any cash-strapped consumer: Who gets paid? And who doesn't?