Wednesday, April 6, 2011

Martin Wolf on Federal Default

From almost a year ago:

According to my friend, Bruce Bartlett, a highly informed, if jaundiced, observer, some “conservatives” (in truth, extreme radicals) think a federal default would be an effective way to bring public spending they detest under control. It should be noted, in passing, that a federal default would surely create the biggest financial crisis in world economic history.

Will they blink ?

1'The political genius of supply-side economics- ' Financial Times


The Arthurian said...

From the conclusion (page 20) of Bruce Bartlett's
Starve the Beast

"Perhaps a future fiscal crisis will provide political cover for massive cuts in entitlement programs that would be politically impossible except in such dire circumstances."


Purple said...

thanks for this link.