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Subject ***United States set to default on debts***

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Original Message The top White House economic adviser warned lawmakers Sunday that the United States faces a catastrophe if Congress does not raise the debt ceiling, as spend-averse Republicans indicated they'd be willing to support the increase so long as certain conditions are met.

[link to www.foxnews.com]

We haven't seen it this serious since 1933!!!

The United States quite clearly and overtly defaulted on its debt as an expediency in 1933, the first year of Franklin Roosevelt's presidency. This was an intentional repudiation of its obligations, supported by a resolution of Congress and later upheld by the Supreme Court.

[link to spectator.org]

Eventually there will be no choice but to default.

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