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JLC writes,

... if the company had suddenly stopped paying it's suppliers...

I don't see how paying our debt interest first and then cutting discretionary spending would cause a down grade.

I'm not saying stiff people/companies we owe. I'm saying quit spending what we don't have.

If you suddenly chop 40% of the money you are currently paying out, you're going to be stiffing a lot of "people/companies we owe."

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