Republican anarchy and the road to U.S. ruin | Arkansas Blog

Friday, October 4, 2013

Republican anarchy and the road to U.S. ruin

Posted By on Fri, Oct 4, 2013 at 7:14 AM

Ezra Klein calls this the scariest paragraph he's read. If you have a scarier one about the consequences of failing to   lift the debt ceiling let me know. It's from a new Treasury Department report:

The United States has never defaulted on its obligations, and the U. S. dollar and Treasury securities are at the center of the international financial system. A default would be unprecedented and has the potential to be catastrophic: credit markets could freeze, the value of the dollar could plummet, U.S. interest rates could skyrocket, the negative spillovers could reverberate around the world, and there might be a financial crisis and recession that could echo the events of 2008 or worse.

All this to keep poor working people, children and the elderly from having adequate health insurance. #WWJD. #USexceptionalism 

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