As President, Barack Obama is fond of stating the obvious as if it were a profound and insightful truth, particularly when Congress even hints at cutting up his national credit card. Yes, a nation must pay for the debts it has accrued. No one that I know of has ever said otherwise. Even under a staggering debt of $17,000,000,000,000 (that’s seventeen TRILLION, for those keeping score). I am confident that no one has ever said, “Hey, let’s declare bankruptcy and just walk away from it all!”
