Thursday, October 10, 2013

Default Would be Bad

From the IGM Forum at the University of Chicago's Booth School of Business a question asked of 36 prominent economists, 31 of whom responded:

Question A: If the United States fails to make scheduled interest or principal payments on government debt securities, even as an unintended consequence of political brinksmanship, US families and businesses are likely to suffer severe economic harm.

[HT: NY Times Economix Blog]

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