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.
“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.”
OK. Let’s assume that happens. And I DON’T think it will. Dear leader defaults on the debt. We’re effectively in debt repudiation mode. At that point, the ability of the Federal government to borrow more is severely circumscribed regardless if it wants to. Net effect: lots of economic pain and an instant balanced budget.
Net effect if the debt ceiling crossed and dear leader chooses NOT to default: some economic pain due to an instant balanced budget.