Wednesday, July 20, 2011

The scariest video I have ever seen.

The opening of last night's Rachel Maddow Show was the scariest 15 minutes of TV I think I have ever seen. It concerns the GROWING belief by Republicans in the House that defaulting will be no big deal. Apparently even Ronald Reagan saying that default would be terrible isn't enough to convince them.

Here's the video. I found the most troubling part to be the interview at the end with the prof. of constitutional law from Yale who indicates that even if the president were to invoke emergency powers, he could not act until damage had already been done to the country.


If default were to happen, it most likely would  have a devastating effect on the finances of all retirees, including teachers.

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