Wednesday, October 9, 2013

Remember: Glenn Reynolds Said We Can Win By Losing


The American Conservative will now be accused, I guess, of not being conservative enough:



Take the recent claims from many conservatives in Congress that there won’t be a default if the debt ceiling isn’t raised. Even if it were technically possible to prioritize payments in the way that they claim, it would still raise borrowing costs, undermine the dollar, and probably induce a recession, and all the while the size and cost of the government would not have been permanently reduced one bit.



I'm already there, have been there - and will probably stay there - well into the future,...
 

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