Media Matters - "I Say Let Them Default": Fox Encouraged Default, Downgrade"

[TomCADem]

Why was the Tea Party so cavalier about allowing the a default?

http://mediamatters.org/research/201108080047

Bolling: "I Say Let Them Default." As a guest co-host on Fox & Friends, Eric Bolling told Fox Business host Stuart Varney, "I say let them default. ... What's going to happen?" Varney replied, "Armageddon is going to happen."

Cavuto: U.S. Among Countries That "At Face Value Don't Deserve" AAA Rating. Fox News host and senior vice president of business news Neil Cavuto listed the United States as among several countries that "at face value don't deserve" a AAA credit rating, adding that a downgrade is "feared and sort of like the great financial Godot people have been waiting for ... but it's gonna come." Cavuto also said: "I think the better part of valor is actually go ahead and downgrade. We don't deserve a AAA rating."

Cavuto: "I Would Welcome A Downgrade. ... I Think It Would Be The Pain From Which We Have A Gain." On Your World, Cavuto said: "I would welcome a downgrade, I really would. I think it would be the pain from which we have a gain."

Fox's Napolitano Argues U.S. Doesn't "Deserve" Top Rating Because "We Don't Pay Our Debts From Our Wealth, We Borrow Money." On his Fox Business show, Andrew Napolitano asked a guest: "Don't we deserve ... a bond rating lesser than AAA? I mean, we don't pay our money back from our wealth, we don't pay our debts from our wealth, we borrow money in order to pay our debts. How could any bond raters give us a good bond rating when that's been the habit and practice since World War II?"