The Importance of Acting in a Low Probability Event

David Frum: We don't believe these things can be timed, should be timed. He says the U.S. never missed a principal or an interest payment on debt. And that is held up as the big standard of cats and dogs falling out of the sky," he says. "Do I believe in the end that the entire economy will tank and the United States will default on a treasury bond? No, I did not"