Defaulting on the US debt is madness and I am at a loss as to why anyone calling themselves a conservative would even consider it.
By the way as the dollar sinks the price of oil increases, as well as interest on the all ready existing US debt. Try telling the rest of the third world a falling currency and rating downgrades are no big deal..
But we're not going to default on the debt. You don't really still believe that, do you?
as the dollar sinks the price of oil increases
Correct. Making it even more profitable to drill here.
as well as interest on the all ready existing US debt
No. Interest rates on existing debt remain the same. New debt? That's a different story.
Look. The dollar has been overvalued for decades. That, combined with eternal inflation, is what has led to our chronic trade deficit. It's cheaper to buy foreign goods than to make them here.
Now, I wish we weren't in the crisis that is causing the dollar to drop and there are certainly bad aspects to it, but it isn't a disaster, either. Though it will certainly be portrayed that way.