According to my friend, Bruce Bartlett, a highly informed, if jaundiced, observer, some “conservatives” (in truth, extreme radicals) think a federal default would be an effective way to bring public spending they detest under control. It should be noted, in passing, that a federal default would surely create the biggest financial crisis in world economic history.
Will they blink ?
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1'The political genius of supply-side economics- ' Financial Times
2 comments:
From the conclusion (page 20) of Bruce Bartlett's
Starve the Beast PDF:
"Perhaps a future fiscal crisis will provide political cover for massive cuts in entitlement programs that would be politically impossible except in such dire circumstances."
Incredible.
thanks for this link.
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