,,ii  #aafth ,,congress  #ast ,session  
,s4 #fbc  ,,in ,,the ,,senate ,,of ,,the
 ,,united ,,states  ,february #bh1      
#bjai,mr4 ,paul introduced the following
 bill2 which was read twice and referred
 to the ,committee on ,finance  ,a      
,,bill  ,to provide guidance and        
priorities for ,federal ,government     
obligations in the event that the debt  
limit is reached and to provide a       
limited and temporary authority to      
exceed the debt limit for priority      
obligations4  #a4 ,short title ,this    
,act may be cited as the ,default       
,prevention ,act4  #b4 ,prioritizing    
obligations  7a7 ,in general ,in the    
event that the debt of the ,government  
of the ,united ,states reaches the      
statutory limit under section #caja of  
title #ca1 ,united ,states ,code1 the   
following expenditures shall be granted 
priority over all other obligations     
incurred by the ,government of the      
,united ,states3  7#a7 ,the authority of
 the ,department of the ,treasury       

provided in section #cabc of title #ca1 
,united ,states ,code1 to pay with legal
 tender the principal and interest on   
debt held by the public4  7#b7 ,the full
 payment of compensation1 allowances1   
and benefits for members of the ,armed  
,forces on active duty4  7#c7 ,the      
authority of the ,commissioner of       
,social ,security to pay monthly old-age
 survivors' and disability insurance    
benefits under title ,,ii of the ,social
 ,security ,act4  7#d7 ,the authority of
 the ,secretary of ,health and ,human   
,services to make payments for items and
 services furnished to beneficiaries    
under the ,medicare program under title 
,,xviii of the ,social ,security ,act   
and related provisions4  7#e7 ,all      
obligations under any program           
administered by the ,department of      
,veterans ,affairs4  7b7 ,authority ,to 
issue additional debt for priority      
obligations  7#a7 ,in general ,the      
,secretary of the ,treasury may issue   
obligations subject to limit under      

section #caja of title #ca1 ,united     
,states ,code1 in an amount in excess of
 the limit under such section--  7,a7   
during the #cj-;day period beginning on 
the date on which the ,united ,states is
 unable to use revenues or the          
extraordinary measures described in     
paragraph 7#b7 to fully pay obligations 
of the ,government of the ,united       
,states described in subsection 7a7 at  
the time they are due2  7,b7 only to the
 extent necessary to make timely payment
 on obligations of the ,government of   
the ,united ,states described in        
subsection 7a72 and  7,c7 if the        
,secretary provides to ,congress notice 
of the exercise of the authority under  
this subsection4  7#b7 ,extraordinary   
measures ,the extraordinary measures    
described in this paragraph are the     
following3 7,a7 ,the authority under    
subsections 7j71 7k71 and 7l7 of section
 #hcdh of title #e1 ,united ,states     
,code4  7,b7 ,the authority under       
subsections 7g7 and 7h7 of section #hdch

 of title #e1 ,united ,states ,code4    
7,c7 ,the suspension of investing       
amounts in the stabilization fund under 
section #ecjb7;a77#a7 of title #ca1     
,united ,states ,code4  7,d7 ,the       
suspension of investing of amounts or   
the issuance of obligations for any     
other fund or account for purposes of   
preventing the amount of obligations    
subject to limit under section #caja of 
title #ca1 ,united ,states ,code1 from  
exceeding such limit4