Kenyan Socialist President to GOP "Fiscal Conservatives" on the dangers of not raising the debt limit

What would Reagan do?

“The full consequences of a default – or even the serious prospect of default – by the United States are impossible to predict and awesome to contemplate. Denigration of the full faith and credit of the United States would have substantial effects on the domestic financial markets and the value of the dollar.”

Oh wait a minute. That was Ronald Reagan telling Congress what was at stake back in 1983.

Via Steve Benen/Washington Monthly.