I was suspicious whether Carney got it right yesterday about Treasury disclosing spending priorities in event of default. Which is why I specificall asked him to confirm my understanding:
KNOLLER: Let me just go over that again. You’re saying that as we move closer to August 2nd, the administration will reveal what its priorities are so that if there is a default, you’ll tell the American people what will be paid for and what will not be paid for?
MR. CARNEY: Well said.
He clearly said it was disclosure of spending priorities – what will be funded and not in the event of default.
Hours later, I was told that Carney didn't explain it right and that "Treasury will provide more information...regarding how the government would operate without new borrowing authority if the debt limit is not increased."
But not the specific spending priorities such as: interest on the debt, Social Security checks, Veterans benefits, military payroll, etc.