What If Default Isn't a Disaster?

Before we begin, let it be said that the looming possibility of the U.S.’s default on its own debt is a not-insignificant issue. Let it also be said that the U.S. government may be unwilling to pay interest on its multi-trillion dollar publicly-held debt as of mid-October, and that this carries substantial risks. And, finally, let it be said that this is something we should most definitely avoid.

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Why Paul Ryan's Budget Matters

Paul Ryan unveiled the House Republican budget this week with an ominous yet familiar warning: "America's national debt is over $16 trillion." Having stated the problem, he then offered a solution, one which differed only marginally from what he's offered the past two years. Namely: restrain government healthcare spending on Medicare and Medicaid, reform the individual tax code, close loopholes, lower corporate taxes, and promote natural gas and energy independence. The goal? A balanced budget by 2023 that will ensure "the well-being of all Americans...and reignite the American dream."

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Why is Obama Opposed to a Short-Term Debt Deal? Politics

s the tortuous debt ceiling debate continues, with plot twists that even the most diehard political junkies are having a hard time keeping straight, one aspect continues to bedevil the process: the staunch refusal of both President Obama and Senate Majority Leader Harry Reid to accept a short-term deal.

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