Debt ceiling a major test for GOP – Jake Sherman – POLITICO.com

Goolsbee lies:

“That’s the — the — if we hit the debt ceiling, that’s the — essentially defaulting on our obligations, which is totally unprecedented in American history,” [Austan Goolsbee, chairman of the administration’s Council of Economic Advisers] said on ABC’s “This Week.” He added, “The impact on the economy would be catastrophic. I mean, that would be a worse financial economic crisis than anything we saw in 2008.”

Debt ceiling a major test for GOP – Jake Sherman – POLITICO.com

The truth: 

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.

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