2011/07/20/1215/link

link: http://www.cfr.org/us-strategy-and-politics/default-would-dim-american-power/p25486
title: Default Would Dim American Power
author: James M. Lindsay Maurice R. Greenberg
date: 2011-07-15]
source: Council on Foreign Relations
summary: A sustained default could undercut American power in four ways. The first and perhaps most certain would be to force cuts in defense spending. Second, a default would make it harder for Washington to negotiate agreements or build alliances with other countries. Third, a debt default would erode American credibility. Finally, a default could help China, Russia and other major buyers of U.S. debt accomplish something they have been trying to do for years: find an alternative investment to U.S. Treasurys.
topics: 2011 US debt ceiling American imperialism US/mil

Notes

Sounds to me like a default might be the best thing that could possibly happen to the US (and the world). --Woozle 12:55, 20 July 2011 (EDT)