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4 thoughts on “Liberal PBS Runs an Article on Government Default

  1. Yes, I think it's significant that Obama found it necessary to even mention the "D" word, and to vigorously condemn the idea. Sounds like he, and a lot of others in Washington, have been considering it! When I was in high school (back when the earth was still warm), we always knew when we had made some inroads with the administration: The principal would come on over the intercom during home room and condemn whatever it was we were pushing. Well, the principal has acknowledged that there's a problem…

  2. Public_Citizen says:

    The fact, unrecognized by most Americans, is that the United States of America defaulted on its debt twice durring the 20th Century.
    The first default occurred when Roosevelt signed an order for all US Citizens to turn in their gold, then valued at an exchange of $20.00 per ounce and as soon as all the privately held gold was secure revalued the rate of exchange to $35 per ounce. This left those outside of the US stuck with a 75% plus devaluation of US denominated obligations.
    The second default occurred when Nixon closed the gold window in 1971 leaving foreign holders of US currency or bonds with no option but to exchange them for similarly denominated pieces of paper instead of the gold that they were promised when the obligations were made.
    These actions had little effect on the average American Citizen so the American Public was largely unaware of these defaults.

  3. Default is inevitable, so why wait. It will immediately reduce the size of our big, fat, bloated feral gummint and instantly end their borrowing stupidity. Why continue to pay down the debt and tax the people more. Default now, and stiff the Chinese commies and the NWO rich bitches. There's no down side to it for the people.

  4. This sounds a lot like a general manager giving a coach a "vote of confidence". Usually fired soon afterwards. I didn't realize we were so close to default.