Bonus Quotation of the Day…
Posted By Don Boudreaux On February 13, 2013 @ 1:06 pm In Budget Issues,Debt and Deficits,Other People's Money,Seen and Unseen | Comments Disabled
… is from this post [1], at EconLog, by David Henderson:
Bruce Bartlett, in The Benefit and the Burden, his book about taxes, writes that default “would constitute a grossly immoral theft of trillions of dollars from those who loaned money to the federal government in good faith.” In my review of his book [2], I commented, “Really? It’s worse to default on creditors who took a risk than to forcibly take money from taxpayers who have no choice?”
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[1] this post: http://econlog.econlib.org/archives/2013/02/must_default_be.html
[2] my review of his book: http://www.hoover.org/publications/policy-review/article/112271
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