Is default inevitable?

posted by
July 5, 2011
The American Conservative
by Patrick J. Buchanan  
Posted in Commentary

"Lindsey is saying that the probability of U.S. bonds losing face value through inflation or default is high, given the size of the deficits we will be running and the improbability that any deficit-reduction plan now out there can significantly reduce them. Standard & Poor’s and Moody’s are already talking of downgrading U.S. debt if the debt ceiling is not raised by early August. Is America then headed for an inevitable default?" [editor's note: No, because "America" and "federal politicians" are not the same thing - TLK] (07/05/11)

http://www.amconmag.com/blog/2011/07/05/is-default-inevitable/  

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