[TurboZamboni]

Why a U.S. Default Will be a Good Thing  
http://moneymorning.com/2011/08/11/why-us-default-will-be-a-good-thing/   ;
 
Have you noticed that the media doesn’t even dare to utter the word default?

Or when the word is mentioned, it is preceded by the word “disastrous” or “cataclysmic.”

The reason why default is never mentioned as a possibility by the Socialist media, is because default will destroy U.S. gubmint  credit, making it impossible for gubmint  to borrow. Maybe it would force balanced budgets for a generation?

Socialists prefer inflation, which is disguised taxation, or even austerity. But a Keynesian’s worst nightmare is a government unable to borrow money.

[gleeaikin]

Maybe default is called disastrous because it leads to Moody and others lowering our national credit rating. I am not exactly clear why this is bad, but I know when my personal credit rating falls I have a harder time affording higher house payments and buying a car, among other things.

[PGR88]

The reason why default is never mentioned as a possibility by the Socialist media, is because default will destroy U.S. gubmint credit, making it impossible for gubmint to borrow. Maybe it would force balanced budgets for a generation?

Default would also kill Progressivism. All Progressive programs depend on a strong central/Federal gov't giving top-down mandates, AND using money to back it up. Imagine a Bankrupt Federal Gov't (I know, they have printing presses). How would the EPA, NPR, ACORN, SNAP, etc. etc.. survive?

They wouldn't!