Romano: Obama’s Empty “Default” Threat
As the partial government shutdown wears on in Washington, D.C., another potential standoff is rightYou must Subscribe or log in to read the rest of this content.
As the partial government shutdown wears on in Washington, D.C., another potential standoff is rightYou must Subscribe or log in to read the rest of this content.
7 comments
Oh, well then, please proceed!
As if a prioritized default would be just fine. Or is there another point Romano is trying to make?
No no no, a default won’t really cause any problems! That’s just tin foil hattery! None of it matters! And if it does, well, we’ll just blame Democrats!
The tin foil hattery is thinking that all this political drama would ever amount to a traditional “default” in the context of gov’t not paying its bills, even in the context of a debt ceiling.
They will print money to the bitter end….none of the pols have the stomach for let alone want an actual traditional default-it’s not even a partisan issue in the big picture.
It’s “the sky is falling” nonsense.
In other words, “Hey, Republicans, we forced a shutdown, why not a default too? We need more hostages. Let’s go for the entire country this time!” Wonderful, ALG lives up to its name. What better way to make “limited” government than to tie it down in hostage negotiations?
Their friends at the Cato Institute are already trying to flat out lie about Obamacare coverage, too, just in case people start thinking that maybe a sane rationality towards health care reform might be a good thing.
http://www.mediaite.com/online/shock-and-awful-conservatives-already-lying-about-obamacare-enrollee-chad-henderson/
If you can’t see that both side are to blame I can only come to one conclusion, partisan sheeple with their heads stuck where the sun don’t shine.
I read a Q&A from my brokerage frim and they claim there is 30 billion for Lew to spend after Oct 17. By Nov 1, that’s when the SS checks don’t go out, medicare payments held up etc…
Defaulting is the same thing as shooting yourself in the head. 2008 might look like good times compared to a debt default.
USSA is bankrupt … however, print funny-money until it is worthless.