2011/07/20/1642/link
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- link: http://www.alternet.org/news/151631/5 disastrous consequences of a debt ceiling meltdown/
- title: 5 Disastrous Consequences Of A Debt Ceiling Meltdown
- date: 2011-07-13
- source: AlterNet
- author: Joshua Holland
- summary: 1. Fed gov will have to cut back payments for services. 2. ...which will cause "real people" to be hurt. 3. ...which will hurt the economy. 4. ...and raise interest rates significantly. 5. It will actually increase the deficit more than would raising the debt ceiling in a timely manner -- assuming the ceiling is eventually lifted.
- topics: 2011 US debt ceiling US/economy
Comments
- 2-#4 seem largely irrelevant or redundant (#2 is an obvious consequence of #1, and #3 and #4 are kind of putting the cart before the horse); the real consequences here are #1 and #5.