Outgoing White House Council of Economic Advisers Chairman Alan Krueger has added a new worst case scenario to the list of what could happen later this year if Congress fails to raise the debt limit: sharks falling from the sky.
On Monday, Krueger reiterated the White House position that President Barack Obama will not negotiate over raising the borrowing limit and that failure to do so will hurt the economy and, in particular, the middle class.Ok, so if default is Sharknado, who's the guy who drops the bombs into the tornado? And who cuts his way out of the shark with a chainsaw?
The idea of breaching the borrowing cap was “unthinkable,” Krueger said, and he drew comparisons to the recent Syfy movie “Sharknado” in which a freak storm leads to thousands of sharks terrorizing people on land and in the water.
“You have this tornado which brings sharks and they land on people’s heads,” he joked at POLITICO’s Playbook Lunch event. “I think if we cross the debt limit, it would be worse for the financial sector.”