Paul Krugman explains: The fight about the debt limit is theater. It is about conservatives trying to back the clock, first to 1935. Should they get the job done, KABOOM! … there goes our Social Security, with Medicare soon to enter the fire. More than 40% of US retirees depend solely on Social Security as their only income. These people will be on the streeet.
Paul Krugman explains in the New York Times: Don’t Try to Appease Economic Terrorists.