As many observers had predicted, Washington is quickly going from simply a GOP tantrum-generated shutdown (already serious and harmful enough) to a much more serious (though still GOP-driven) potential default on the full faith and credit of the United States.
Only, even the tea partiest of the current crop of GoOPers can’t ignore the fact that most sensible people and virtually every economist says that default will be a terrible, ruinous event. So even if they themselves, the tea partiers, do not believe a word of it (much like they don’t believe those shifty scientists when they speak of global warming or evolution), they know enough about politics to know they have to at least address such widespread concern over a default. And how have they done so? As today’s New York Times details for us, by offering up a novel (though perhaps not-unexpected) theory: that default really wouldn’t be so bad.
No, really. In tea party land, where Jesus rode a dinosaur and global warming is a hoax perpetrated by thousands of scientists all acting in concert and complete secrecy, a first-in-history default on government debt is merely Obama attempting to irresponsibly scare the markets. That’s the view of Rand Paul, one of the two leading tea-weasel Senators heading up this “defund Obamacare through shutdown/default threats” attempt.
I thought perhaps Mr. Paul (and Mr. Cruz, or anyone on the GOP side who might still be reachable by reason and/or facts) might like to know what the rest of the world, who aren’t likely to be simply in thrall to Obama, think about the possibility of a US default. I won’t even excerpt it or comment; go read it all. Especially if your last name is Cruz or Lee or Paul. Then, get back to us.