This surprises me. Some Republicans are openly talking about missing a few interest payments, if it would get the Democrats to agree to bigger spending cuts. Fortunately David Frum is there to wag his finger at the children.
I don’t understand why the younger Republicans don’t start demanding widespread asset sales. I would think that would sell politically a lot better than actually missing payments to bondholders. I suppose it might be hard to say you want to dump hundreds of billions worth of student loans, since that would presumably make it harder for the next crop of kids to bury themselves in debt. (Go figure.) But I would think selling off real estate, or expediting drilling rights, would be no-brainers.