. >> wendalgoalary at the white house. one of the folks who wants to take his job. default right now, it is eventually going to happen and things will be a lot worse. texas congressman ron paul. congressman, a default has all of these horrific images and fears attached to it over done or what? >> i think there are a lot of big problems and we can't ignore it. but the biggest problem is not admit that this country is bankrupt. if you don't admit the true problem you will have the bickering back and forth and will not come up with the answer. when country the size of ours gets to bankruptcy the debt gets default on . adam myth would argue this case . only two ways to default, one through the deflationary process where the debt is lequidating and the other by debasing the currency. it is easier to debase the currency and have the debt liquidated in real terps than allow the bankruptcies to come. we didn't permit the bankruptcies four years ago and the problems got worse and our debt exploded. there are terrible choices and the worse choice is pretending that the bankru