NEW YORK (CNNMoney) – Could a failure to raise the debt ceiling spark the same kind of credit crisis that plunged the global economy into a recession in 2008?
Short answer: Yes. That's exactly the situation some experts are warning the United States will find itself in if the Treasury Department were to miss interest payments.
FULL STORY
From CNN Politics
© 2012 Cable News Network. Turner Broadcasting System, Inc. All Rights Reserved.
| Advertising practices | Advertise with us | About us | Work for us | Help
Thank you idiot teabaggers.
Yes all it will take to rise the dept ceiling , Is to get the Republican to Compromise. And that what need to be done Is for Both Party To Compromise , and a deal will get done. But all this wasting time on voting on something the Republican no won't pass Is just dumb. Now they Quit wasting time and let get a deal done that will Pass. That why People voted you Into Office, Is to do what best for America. And defaulting on are dept and not paying all of America Bill Is NOT IN THE BEST INTEREST OF AMERICA. Not want best for the TEA PARTY or what best for the SPECIAL GROUP OF PEOPLE YOU SIGN A PLEDGE TO. Because you all ready took A OATH AND SWEAR ON A BIBLE TO IT.
I hope all you Gop/Teapartiers voting in 2012,are "Rich" The right wing voters that are not millionaires,"You better like cold Pork&Beans,and a sleeping bag on Pavement! Crazy??? Sounds like a horror movie,in 3D?????/
Tea-baggers are OUT in 2012.
Macho Repubs. ain't sceered of no Debt Crisis or Global Warming either. But Muslims, they're everywheres !
Will the Democrats running up 20, 30, 40 TRILLION in debt spark a credit crisis??? We're heading for one either way since the Democrats have no interest whatsoever in balancing the budget.
The GOBPbaggers don't care about anything except serving their owners and masters in the cult of corrupt corporatism they all worship. The refuse to make any sacrifices while calling for the rest of us to make endless sacrifices while their share of America's wealthy grows to ever-more obscene levels.
If the US defaults, I'm going to stop paying my mortgage. I really hope it doesn't happen, but if it's good enough for the rethugliban, it's good enough for me – and nobody can accuse me of being a deadbeat without outing themselves as hypocrites!
Hey repugs are walking around like zabies hoping America default. I've been calling these folk lunatics but this is a bit past lunasism, because even lunatics flinch when someone have a loaded gun to their heads. These folks seems to endulge in the ending of America as a super power. Don't tell me the hatred of Obama is that insanely strong among tea party. China and most of the world are modernizing their countries, and we have the tea baggers trying to send us back into the past.
As long as the repugs can blame Obama, nothing is off the table. Gotta make him a one-term President, even if it destroys our economy.
Where are the jobs the repugs were going to bring??