Goolsbee - Letterman Next? SNL is a Better Fit.

Ok, I saw this on Bloomberg and had to comment.

Austan Goolsbee, chairman of the U.S. Council of Economic Advisers, said if Congress fails to raise the debt ceiling, the “impact on the economy would be catastrophic.”

“I don’t see why anybody’s playing chicken with the debt ceiling,” Goolsbee said today on ABC’s “This Week” program. “If we get to the point where we damage the full faith and credit of the United States, that would be the first default in history caused purely by insanity.”

Perhaps economics and politics is best played out in the media, but, if true, this truly saddens me.  “If we get to the point where we damage the full faith and credit of the United States, that would be the first default in history caused purely by insanity.”  Really?  Damage to the full faith and credit of the US is a default?  Umm, not for nothing but you don't think the full faith and credit has already been damaged?  And as for the first default caused by insanity, where do I begin?  Soundbytes rock!


Yep, just another year in the third world.