THEY'RE BACK: Congress Threatens To Default Again

[n2doc]

Treasury Secretary Jack Lew was on Meet the Press Sunday (recorded Friday).

Lew said:

"The fight over the debt limit in 2011 hurt the economy, even though, in the end, we saw an extension of the debt limit. We saw confidence fall, and it hurt the economy. Congress needs to do its job. It needs to finish its work on appropriation bills. It needs to pass a debt limit."

Here is a graph of consumer sentiment.

Notice the huge spike down in 2011 - that was due when Congress threatened to "not pay the bills".

As Jack Lew notes, there is no reason to do this again.



Read more: http://www.calculatedriskblog.com/2013/07/theyre-back-congress-threatens-to.html

[liberal N proud]

1. Kicking that can that they don't want to kick down the road, down the road

And the media helps them sell their bullshit.

[Xipe Totec]

2. It's their default position. nt