Townhall Finance
The Great Default Already Happened
by John Ransom
Oct 19, 2013

If a US default on interest and principal payments were to happen, make no mistake it would be a default of choice.

Obama’s choice, that is.

But he wouldn’t be the only one defaulting.

Nor is he the only one to blame here.

In order for the United States government to default on paying interest on the debt that we owe, a series of decisions would have to issue from the White House that would prevent those payments in the first place.

There is enough money to prevent default, just not enough to keep the rest of the government going the way the big government types on both sides of the aisle would like.

But whom are we kidding?

In many senses the government, the politicians, the media, our newspapers, our radio stations, our chambers of commerce, our professional sports leagues, our schools, our universities, our court system, Democrats and Republicans alike, defaulted a long time ago.

To pretend that the decisions, half decisions and the evasions that have been made that finds us so close to default are the responsibility of any one man, any one party or any one class of institution is to ignore reality.

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