BUSINESS
09/30/2013 06:17 pm ET Updated Oct 01, 2013

Matt Taibbi Says What We Are All Thinking: 'Defaulting Is Just Stupid'

The looming government shutdown could be terrible for the economy. Yet, Congress could do even more damage if it refuses to raise the debt ceiling, forcing the United States to default on its debt.

That would be truly terrible, Matt Taibbi told The Huffington Post on Monday. And Congress doesn't seem to "get it."

"Defaulting is just stupid," the Rolling Stone reporter told HuffPostLive host Alyona Minkovski, blaming extreme partisanship on The Hill. "There are no winners if there's a default, all it is is destruction on all sides."

Taibbi said that a default would be "a global economic tsunami like the world has never seen before."

For more from Taibbi's interview watch the full video above.

HuffPost

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