Ryan's Budget and the debt limit

[whell]

Originally Posted by finnbow

Ronald Reagan, peace be upon him:

“The full consequences of a default – or even the serious prospect of default – by the United States are impossible to predict and awesome to contemplate. Denigration of the full faith and credit of the United States would have substantial effects on the domestic financial markets and the value of the dollar.”

http://www.washingtonpost.com/busine...p3G_story.html

Of course, the state of world economics is quite a bit different today than it was 28 years ago when Reagan made that statement.

EDIT - here' a bit more rational view, IMHO

http://online.wsj.com/article/SB1000...s_opinion_main