The National  Memo Logo

Smart. Sharp. Funny. Fearless.

Monday, December 09, 2019 {{ new Date().getDay() }}


Michele Bachmann 427x321

Frequently Asked Questions

When will we hit the debt limit?

Treasury Secretary Jack Lew estimates his department will run out of authority to borrow more money to pay America’s debts on October 17.

What does that mean?

At that point, the Treasury Department would only be able to pay as many bills as can be covered by current tax revenues.

Can the government manage this in a way that prevents default?


What will happen if we default?

Terrible things. Some compare it to Lehman Brothers failing in 2008, sparking the financial crisis. Others say it would be much worse than that, with the government unable to help. The result could be a lingering depression compounded by higher interest rates.

Will my Social Security checks be delayed if America hits the debt limit?

It’s very likely that they could.

Latest news:

“In military terms, the government shutdown is conventional warfare and refusing to raise the debt limit is nuclear war.”

The More People Obamacare Helps, The Crazier The GOP Must Become

How To Make A Debt Limit Deal And Avoid Disaster

Republicans Rip White House In Shutdown Counter-Attack

S&P Is Underestimating How Dangerous Tea Party Republicans Are For The World’s Economy

WATCH: House GOP Releases Its Ransom Demands


Photo: Gage Skidmore via


Start your day with National Memo Newsletter

Know first.

The opinions that matter. Delivered to your inbox every morning

Youtube Screenshot

On July 21, Verizon followed in DirecTV’s footsteps and announced it would not be renewing its contract with the far-right conspiracy theory network One America News. Having learned nothing from its catastrophic response to DirecTV, OAN denounced Verizon and encouraged viewers to harass and boycott the “radical Marxist corporation.” And since then, OAN has only further proved its worthlessness.

Without a major carrier, OAN remains focused on national issues like a fear of roving transgender gangs harassing conservatives, Rep. Alexandria Ocasio-Cortez’s support for gay men who flash “their genitals to little boys and girls” (she appeared on RuPaul’s Drag Race -- a show with no children -- two years ago), and Verizon’s “censorship” of OAN.

Keep reading... Show less
Youtube Screenshot

Postcards from the great American labor shortage: A couple arrives at the Seattle airport after a five-hour flight and stands in line at the car rental desk. People are angry. At the desk sits a harassed employee explaining that he simply has no cars of any kind to rent. Nothing. Why? There aren't enough employees on hand to vacuum, wash, fuel and process the cars.

Another snapshot. A couple has been driving for several hours and requires a bathroom stop. They pull into a Burger King. The doors are locked. The only service is at the drive-thru. Why? Lack of employees.

Keep reading... Show less
{{ }}