The Catastrophe of the US Debt Crisis

If this was protracted over a period of months then we could really be in through a rough right. The Council of Economic Advisors takes us to a GDP shock of 8%. And that's great recession, that's 2008 style. We see a huge surge in unemployment. There is no independent evaluation of this freakish event which has never happened before out there. All of the estimates are in some sense party pre-committed to one or other position in this scenario including yours. But you can see I'm trying to lay off my centrist privilege, I mean, but you know, digest the experience of Brexit where the nightmare never actually arrived, right?