Goldman Sachs, in a research note, describes default on U.S. debt as “extremely unlikely,” even if the debt ceiling isn’t lifted, Jim Pethokoukis at Reuters reports. Here’s the money quote:
The Obama administration, meanwhile, continues to speak as if no debt-limit hike necesssarily means default.
The remaining question is whether Goldman and Obama simply disagree, or whether Obama is being misleading. To solve this mystery, let’s ask:
(1) has Obama ever misled the American people?
That’s an easy yes.
(2) Does Goldman have any access to the Treasury Department?
I think that one answers itself, too, most importantly in the person of Treasury Department Chief of Staff Mark Patterson, a former Goldman Sachs lobbyist.
So, yes, as my colleague Conn Carroll put it this morning:
