From The Pragmatic Capitalist:

Reader “SG” sends along this horrifying quote from the Chairman of the House Finance Committee, Barney Frank at yesterday’s hearing:

Barney Frank:

“Do you think there is any realistic prospect of America defaulting on its debt in the foreseeable future?”

Bernanke:

“Not unless Congress decides not to pay which I don’t anticipate….”

Let’s get this straight. The United States government CANNOT default on its obligations without...

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