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OK, so we default and the interest rate on future borrowing goes up making it harder for us to borrow. Hmm, doesn't sound like a bad thing to me. 30 years ago we where the worlds largest lender, now we are the largest borrower.
Also, there is that pesky little Aug 2nd deadline which we all think is when our debt defaults. It's actually when congress takes off for vacation...boooohoooo
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