A technical default will not birth a meltdown; smart money doesn’t care, IF that is we can forge a blueprint, now, for a steady reduction of debt going forward.
From the Heritage Foundation: "Forget the McConnell, McConnell–Reid, Coburn, Gang-of-Six, Boehner, and Reid plans. Go with the American plan — cut government spending, deeply and right now, for the good of the country."
It’s the debt / GDP ratio folks, that’s what credit types are monitoring. Key - there’s a heck of a lot of entitlements nobody’s targeted yet.
If the current debate exposes and then ends for good the means and method of the left, it’s reason to celebrate, not to swoon.
Robert Craven
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