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Obama Whispers to Banks: No Worry of Default

John on July 26, 2011 at 1:45 pm

All that’s missing from this story is a “But don’t quote me.” The administration has been playing up fears of a default in public but in private it has been reassuring banks no such thing will happen:

Of course if we don’t default on debt we may have to make some real cuts to Medicare, Social Security, etc. Let the Mediscare demagogues defend the choice to pay the banks ahead of seniors. Let them, for once, have to be the real adults in the room and not the candy-striper handing out lollipops.

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