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>> UNITED STATES OF AMERICA Latest News

JAN 14, 2013 - Business Insider

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A US Default Would Be The Financial Equivalent Of This Painting Of Hell

Earlier today, President Barack Obama almost dared Republicans to not increase the nation's borrowing limit in a White House press conference. "If Congressional Republicans refuse to pay America’s bills on time, Social Security checks, veterans benefits will be delayed," Obama said. "... Investors around the world will ask if the United States of America is in fact a safe bet. Markets could go haywire. Interest rates would spike for anyone who borrowed money." One analyst — Michael Feroli, the chief economist at JP Morgan — speculated what such a situation might ... Read More

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