Oh sure the US had a 'technical' default back in 1979 when the Democrats controlled both the Senate and the House. Then, like now, the Democrats insisted the debt ceiling be raised when the debt was a paltry $833 billion. A far cry from today's $17 trillion disgrace. Still, the same set of political morons are pushing again.
Germany was commanded to pay all of WWI's war debt by their victors. By the time Hitler rose the Germans had been printing money and accruing massive domestic and foreign debt. The result inflated their currency and collapsed their economy. Hitler's answer? Default.
Sound familiar?
Are world wars and major depressions preferable to rational, responsible management of spending and debt? The answer is rhetorical - Obama is hell bent on repeating Hitler's mistakes.
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