A modest proposal on debt: Let the government close…(Yes!!)

Friday, July 15, 2011
By Paul Martin

Why the U.S. could use a strategic default

By Jeff Reeves
July 14, 2011

ROCKVILLE, Md. — It is a sad situation when hard-working CEOs and money managers who make this country great must watch a bloated federal budget waste our hard-earned money.
Millions of Americans claim they are old, sick or laid off — and, instead of working for an honest livelihood, employ all their time begging for a government handout. They drive up the national debt with their dependence, and they are responsible for the current budget mess we are in.
I think it is agreed by all parties that this prodigious spending is deplorable. So amid the current debate over the debt ceiling, I feel compelled to offer my Modest Proposal to fix our free-spending ways: a strategic default on our debt.

It’s a strategy employed by many homeowners underwater on their five-bedroom homes in Las Vegas, and it’s one we should put to use on a national scale. It’s time we put an end to criticism for our past behavior and not allow ourselves to be held hostage by creditors.

America, it is time we just walk away.

Politicking over the debt ceiling has brought the chance of a default to the forefront. But, even if Congress could reach a compromise before the Aug. 2 deadline, this would be the wrong decision. As in the case of a homeowner who must bend over backward to pay a mortgage on a home worth a fraction of the original loan’s value, it’s simply not worth the effort.

The Rest…HERE

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