What's the worst that could happen if the US defaults?

Started Oct 10, 2013 | Discussions thread
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Re: Failure is certain.
In reply to jonrobertp, Oct 15, 2013

jonrobertp wrote:

Americans are living in a fantasy world. Like...debt doesn't matter, will never have to pay. Wrong !

17.2 trillion debt !! Failure is certain, when is uncertain.

Right after WWII the US debt/GNP ratio was 1/1 just like it is today... we paid it back then and we'll pay this one back.

Remember that just before G. Bush came in to office and started spending like no tomorrow the US, under Clinton, was running a surplus.

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