Defaulting to Big Government
Opponents of raising the US debt ceiling argue that the federal government is too big relative to the economy, and that drastic measures are needed to bring it under control. But the consequences of any default would, ironically, actually increase the size of government relative to the US economy.
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WASHINGTON, DC – Leading United States congressmen are determined to provoke a showdown with the Obama administration over the federal government’s debt ceiling. Ordinarily, you might expect House Republicans to blink at this stage of the negotiations, but there is a hardline minority that actually appears to think that defaulting on government debt would not be a bad thing.