Make No Mistake: A GOP-Forced Default Will Cause Next Great Recession

Source: Common Dreams
by Mike Konczal

“Defaulting on the United States debt would be a catastrophic disaster. Most acknowledge this, but many conservatives do not, and many in particular are flirting with serious economic harm in order to force political priorities that have nothing to do with any long-term budgetary issues. This is irresponsible, counterproductive to addressing any problem our country could face, and puts far too much at risk. A default is bad at any time, but it is particularly unforced with the economy doing so well.” [editor’s note: If default is so bad, why are Democrats unwilling to cut spending at all, let alone as far back as, say, 2019 levels (which would balance the budget) to avoid it? – TLK] (05/22/23)