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Defaulting on the national debt would be far worse than shutting down the federal government
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By Pat Cunningham
Sept. 13, 2013 5:05 p.m.

Ezra Klein COMPARES two looming deadlines facing Congress and finds one more scary than the other:

There are two fiscal crack-ups on offer this fall. One is a government shutdown. That’s bad, but it’s not a catastrophe. The other is breaching the debt ceiling. That’s a complete and utter catastrophe.

The timeline here is cold and unforgiving: Absent action, the government shutdown will happen at the end of this month. The debt ceiling could collapse as soon as Oct. 18.

If the GOP needs to lose a giant showdown in order to empower more realistic voices and move forward, it’s ...

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