Debt Default, the End of the World and Timothy Geithner's Thoughts

Sunday, 09 September 2012 07:55

Real reporters and newspapers don't try to tell audiences what political figures think because they don't know what they think. But Bob Woodward does not fit the description of the former and the Washington Post does not fit the description of the latter, hence we have a front page account of the battle over the debt ceiling that concludes with a section beginning:

"Geithner thought there was one other consideration. He did not mention it to anyone, not even the president, but he had thought about it a great deal. It was not just that Obama faced an economic choice or a political choice. He faced a moral choice."

The piece then goes on to explain how Geithner thought it would be horribly immoral to default on the debt because of the price the country would pay for generations.