Hot Air commenter 18-1 absolutely nailed it in the comments section of a post on White House economic advisor Gene Sperling terming prioritization of paying bills “default by another name”:
Let’s break this into an analogy.
Your house is about to be foreclosed on and your credit cards are maxed out. Your earnings are down because the Obamaconomy has devastated your income.
Your spouse comes to you with a handful of credit card applications saying this is the only way you can still afford to go out to eat every night and still go on that vacation to
ObamacareTahiti as promised.You refuse to sign up for the new cards and instead demand that you cut all unnecessary spending now before you lose everything.
Your spouse responds by calling you a terrorist, a hostage taker, and an extremist. Your spouse locks you out of the house, and spends money hiring people to wall off not only your driveway, but everyone in the neighborhood.
Who is the reckless individual in this case?
One thing 18-1 left out of that – you offered several different ideas on spending to cut, and your spouse rejected out of hand every single one of them.
As for Sperling, the dirty little secret is no matter what the politicians in DC do, there will be a “technical default” within 15 years. There isn’t enough money in the world to support another doubling of the publicly-held portion of the debt, and there isn’t enough money in the US to support the amount of taxation required to avoid said doubling.
