The Right Coast

Editor: Thomas A. Smith
University of San Diego
School of Law

A Member of the Law Professor Blogs Network

Thursday, January 17, 2013

Default deniers scoff at debt-ceiling apocalypse - Rachael Bade -

The looming debt ceiling fight may look like a classic “who will blink first” Washington debate, with a ticking time bomb waiting at the end.

But for lawmakers like Pat Toomey, Steve Scalise and Daniel Webster, there’s no reason for Republicans to blink — because the time bomb is a dud.


It seems to me the skeptics are correct. We could "default" on social security payments, and yet still pay interest on money we had borrowed. I don't see my way clear on the politics of it. But it is an option for the GOP to keep in mind. --ts

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