Many in G.O.P. Offer Theory: Default Wouldn’t Be That Bad

Disturbing report from the NYT via CNBC here.

A surprisingly broad section of the Republican Party is convinced that a threat once taken as economic fact may not exist — or at least may not be so serious.

Some question the Treasury's drop-dead deadline of Oct. 17. Some government services might have to be curtailed, they concede. "But I think the real date, candidly, the date that's highly problematic for our nation, is Nov. 1," said Senator Bob Corker, Republican of Tennessee.

Others say there is no deadline at all — that daily tax receipts would be more than enough to pay off Treasury bonds as they come due.

"It really is irresponsible of the president to try to scare the markets," said Senator Rand Paul, Republican of Kentucky.

"If you don't raise your debt ceiling, all you're saying is, 'We're going to be balancing our budget.' So if you put it in those terms, all these scary terms of, 'Oh my goodness, the world's going to end' — if we balance the budget, the world's going to end? Why don't we spend what comes in?" "If you propose it that way," he said of not raising the debt limit, "the American public will say that sounds like a pretty reasonable idea."

What these morons do not realize is that a policy of reducing current federal spending flows in a perpetual asynchronous fashion to that amount received in Treasury deposit flows in the previous ex post time period, will reduce non-government sector income in a time period one, which will foment a continuous asynchronous serial degradation in the deposit flows received by the US Treasury in a time period two, which will result in a further reduction in federal spending flows in time period three, which will again degrade the deposit flows received by the US Treasury in time period four, which will result in a further reduction in federal spending flows in time period five .... rinse and repeat in a convergence to zero until there is literally no income and no federal tax receipts in the US economy at all.

These disgraced morons are simply not qualified to hold positions of authority within the federal government.