Who is the Priority Creditor on Default Day?

Written by David Frum on Tuesday July 12, 2011

Here's a skill-testing question in this time of debt showdown, who is the most senior government creditor after Default Day?

Here's a skill-testing question in this time of debt showdown.

Who would be the more senior government creditor after Default Day:

- A disabled Social Security recipient?

- Or a vendor with a contract to provide toothpicks to the cafeteria at the Department of Waste, Fraud & Abuse?

I'd guess the vendor, right?