On June 19th it ordered all state-owned firms that had listed on the stockmarket since 2005 to transfer 10% of their shares to the National Social Security Fund to shore up its assets.

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The president does not have discretion under the Constitution to refuse to pay interest and principle on the national debt, including the Social Security trust fund bonds, as long as he has the money to do so, which he would even without an increase in the debt limit, or taxes, as explained above.

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