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Politics : Actual left/right wing discussion
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To: TimF who wrote (10011)8/4/2011 9:05:19 AM
From: Lane31 Recommendation  Read Replies (1) of 10087
 
They might, but if they do I think it would be to a much smaller degree, and for a lesser amount of time, then a default on debt or contracts. I think the two would be perceived very differently by those who might lend money to the federal government.

Sure, they're different. But how different, really, at a practical level? Noting that a banana republic has not yet defaulted on a debt instrument is damning with faint praise. AAA rating? Full faith? Not hardly.
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