“White House Press Secretary Jay Carney dropped a doozie yesterday: ‘We are the United States. We do not default. It is unthinkable for the greatest country on Earth to default for the first time in its history. And I believe that Republican leaders share that conviction, and the President believes that Republican leaders share that conviction.’ A denial of truth, sprinkled with a dash of ‘American Exceptionalism.’ Hire this man! The truth is that default is not something new for the U.S. It has already been done in the past. Prior to 1971, foreign central banks, that were holding dollars, were able to turn them into the U.S. Treasury in exchange for gold.”
http://www.economicpolicyjournal.com/2013/07/the-anti-default-pomposity-of-us.html
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