Alan Auerbach interviewed by National Public Radio, On Point, October 10, 2013
“I don’t see how the largest economy in the world defaulting on its national debt isn’t a big deal. This is likely to raise the U.S. government’s borrowing rate and lead to a severe loss of credibility that the U.S. government can deal with the important issues it faces—not just on budget issues, but on other issues. If the U.S. government can’t even handle this issue, then why should our allies around the world think that we can deal with other important questions?”