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Eric E's avatar

I don't think they are playing to default. They stand to lose too much: the dollar as reserve currency and foreign funding of deficits (er, that is, of tax cuts for the wealthy), AND one of their msin sources of leverage in the global (political) economy.

They are driving debt for one big reason: they've overpromised on tax cuts relative to their political willingness to cut spending. We need to keep the pressure on to spare spending.

They've backed themselves into a corner and are looking for ways out.

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