Nuff said. Setting off economic nukes right now will only accelerate the failure and the depth of the coming depression. It will also be very localized, opening up vast holes in the country's social fabric. Delay it.
Dave has it right with this great post.
Another way to look at it: Saving Detroit for another year is just pocket change in comparison to the money we just shoved into the pockets of the execs at Goldman, AIG and other Wall Street money sinks.