As the clock ticks on the debt ceiling fight, let’s take a trip down memory lane.
Historically, conservatives have talked a lot about cutting spending, but once they get to Congress it doesn’t happen. Given the strength of the radical, tea party conservatives, and the resonance of the issue of the deficit in general, there’s a chance this could change.
They’re likely slim, but what are the odds that a new Congress might do the unthinkable: refuse to raise the ceiling on the national debt?
This would definitely have major economic implications, and if you’re thinking about random “tail risks” this might be one to consider.
What’s hilarious are the comments. Everyone thought we were insane just for asking.
Here are a bunch of them.
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