Originally Posted by Honus

So far, what I have seen is a whole bunch of economists saying that a first-ever default by the United States will have disastrous effects. I haven't seen any economists who disagree with that view, but there are a growing number of GOP politicians saying that maybe a default won't be so bad. I know that you have an aversion to experts, but I would have thought that you would want to have some idea about whether a default would cause another depression. Do you have any arguments or historical precedents or anything to support you on this? Or are we just going to try it out and see what happens?Actually, if we had grownups in Washington, they wouldn't be reducing spending now. IMHO, the current bipartisan desire to cut spending is repeating the mistakes that deepened and prolonged the Great Depression. This guy explains it much better than I: http://www.washingtonpost.com/opinions/want-to-avoid-another-depression-try-understanding-the-first-one/2011/07/07/gIQAbKlx6H_story.htmlThe democrats have offered all sorts of compromises. Obama's latest position, as I understand it, would cut the deficit by $4 trillion. They even proposed cutting social security even though it has nothing to do with the deficit. In return, the GOP offers nothing. Here's the knucklehead Cantor:Translation: I offer nothing. Take it or leave it.Really? Our taxes are at historic lows. We are in at least three wars. We have an economy that could use some stimulation, yet the Democrats are going along with this phony deficit crisis mentality. And you call them Marxists? Really?