'For Many Hard-Liners, Debt Default Is the Goal'

[Popular Front of Judea]

Only in America, the Right embracing defaulting on the national government debt.


The Obama administration and those on Wall Street have long thought that such a prospect was so horrifying that it would necessarily lead to resolution of the current budget impasse. What I don’t think they understand is that there has been a movement under way for some years among right-wing economists and activists not merely to default on the debt, but even to repudiate it.

Those making this argument are largely unknown to professional economists and journalists, but their research permeates the obscure Web sites where Tea Party members get their ideas. And not all are obscure. The late Nobel Prize-winning economist James Buchanan supported debt default, as has the Harvard historian Niall Ferguson.


For Many Hard-Liners, Debt Default Is the Goal | New York Times
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[cyu]

Well, Golden Dawn in Greece wasn't exactly happy about their debt situation either. Things don't always fall neatly in pre-packaged gift boxes.

[Loony Le Fist]

The national debt should be a non-issue. As you have brought up before Popular Front of Judea, if I understand correctly, it is very possible to cancel a big enough portion ($2 trillion) so that raising the debt ceiling would not be required.

Either way, it's ridiculous that there is even a debt ceiling debate. The US Congress already decided how much this was going to cost us when they passed it. For the Republicans to turn around and say they aren't going to pay the monies owed on things that were already decided stinks of ulterior motives. Why did they get passed in the first place? Why was wasn't there debate when these bills were making their way through Congress? If this is about Obamacare being bad for the country, why not just pass the CR and continue trying to repeal it? It isn't like this is their last chance.