tag:blogger.com,1999:blog-3758330678390419129.post2475162074755961279..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: Joe Salerno Takes on Bruce Bartlett and His Attack on Debt Default AdvocatesRobert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-3758330678390419129.post-2611723028848752832013-10-15T17:38:13.930-04:002013-10-15T17:38:13.930-04:00That the government had to pay somewhat higher int...That the government had to pay somewhat higher interest rate has nothing to do with any 'default phobia', When have the 1% ever given a shit about sticking the taxpayer with the bill if it means they get cheap money? Today's fat bastards are shitting themselves that the government will be forced to make a decision on what (and who) to cut and that no amount of lobbyists will save themHeathhttps://www.blogger.com/profile/15417060063126394938noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-79656844607539710792013-10-15T17:08:52.772-04:002013-10-15T17:08:52.772-04:00Salerno failed to mention the default that took pl...Salerno failed to mention the default that took place under Carter about the time of the 3 Mile Island fiasco. <br /><br />The United States defaulted on some Treasury bills in 1979. And it paid a steep price for stiffing bondholders. The default phobia is based on recent history.<br /><br /><br />The Day the United States Defaulted on Treasury Bills<br />http://www.forbes.com/sites/beltway/2011Anonymousnoreply@blogger.com