Sunday, January 2, 2011

Austan Goolsbee: Hitting Debt Ceiling Would Be 'First Default In History Caused Purely By Insanity'

Austan Goolsbee: Hitting Debt Ceiling Would Be 'First Default In History Caused Purely By Insanity'

Appearing on ABC's "This Week," Austan Goolsbee, the chairman of the Council of Economic Advisers, laid out the fairly alarming implications of the United States defaulting on its obligations while asking the question: What type of insanity would persuade us to do this?