Tuesday, May 17, 2011

The Voices In His Head

I'm one who thinks a temporary debt default would be a less severe Armageddon than some, but the man with the plan in which the magic asterisks have magic asterisks is just loopy here.

Holders of US government debt would be willing to miss payments "for a day or two or three or four" if it put the US in a stronger position to pay them later on, Rep. Paul Ryan told CNBC Tuesday.

"That's what I'm hearing from most people," said the Wisconsin Republican, chairman of the House Budget Committee. "What is more important is that you're putting the government in a materially better position to be able to pay their bonds later on."