“So do you think a debt default is something that could actually happen and literally single-handedly cause a new Great Depression?”
Dear leader, the gop-e, and the corporate welfare queens would sure like you to think that’ll happen. Reality though is that revenues greatly exceed interest payments so there is no need to default. The question is whether dear leader CHOOSES to default.
That’s a gamble I’d take in a New York second: dear leader isn’t going to stiff his cronies in the Bankster Industrial Complex.
Upshot: failure to increase the debt ceiling equals instant balanced budget.
The only thing I was worried about is that Obama could threaten to choose to default and then try and make the American public believe the House GOP forced his hand in defaulting. I was worried because I was thinking that, given the GOP’s inability to articulate the facts to the public, something that conservative greats like Thomas Sowell have made note of an naseum, they would not be able to deal with the backlash and so would find themselves caving on Obamacare in the end anyway. And so the Republicans would not be prepared and equipped to sway the American public to their side if Obama threatened to actively choose to default.
However, it seems like at the very least Obama has outside handlers, if you will, that are not gonna let him do that. Which does help in keeping my hopes up through all of this.