For those of us who have not been keyed into economic terms and the way the government operates (if there is any method to which it operates other than seat of the pants), much of this discussion is somewhat obscure. Actually the way this whole mess is being conducted is pretty illuminating.
On FNC this morning, Charles Gasparino said that the most irresponsible thing he's heard from this debt argument is to use the word "default" repeatedly regarding the economy. In addition, he's pretty certain US credit rating will be downgraded sometime early next week. He said that all bills will be paid and for The Prince to say otherwise is irresponsible and will lead to the rest of the world thinking that American money is just a piece of paper.
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