The Conservative Cave

Current Events => Economics => Topic started by: Ptarmigan on August 02, 2011, 05:57:56 PM

Title: SJSU Professor Says Default Preferable To Debt Deal
Post by: Ptarmigan on August 02, 2011, 05:57:56 PM

SJSU Professor Says Default Preferable To Debt Deal
http://sanfrancisco.cbslocal.com/2011/08/01/sjsu-professor-says-default-preferable-to-debt-deal/

Title: Re: SJSU Professor Says Default Preferable To Debt Deal
Post by: Delmar on August 02, 2011, 06:05:55 PM

Quote

Hummel said he believes the U.S. should go beyond default and repudiate the debt – essentially saying we have not intention to pay the debt back in its entirety.

He wants the government to enact immediate governmental reform to encourage elected leaders to be more fiscally responsible in the future.

“It would make it more difficult for the U.S. Government to borrow, so it would be a balanced budget with real teeth,” said Hummel.

Great idea.   :stoner:

Sends the message to the libs that they can have a clean slate. 
See how long it takes to run up another 14 trillion dollar debt.