Dire consequences of debt default: the wisdom of Ronald Reagan
Back in the days when some Republicans were sane, responsible people (and who’d have thought I’d be including Ronald Reagan in this category?), Reagan himself took a position now held only by Tim Geithner and other Socialists, Communists, and Community Organizers:
Reagan wrote: “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.”
Now, the only Republicanish site voicing any concern about default seems to be the RINO-ish FrumForum.
