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JAN 11, 2013 - Business Insider

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The Disastrous Consequences Of Not Raising The Debt Limit

As we face another brutal fight over the federal debt ceiling at a time when the economy still remains fragile, the stock market is oddly complacent.  Even if the debt ceiling crisis is resolved, the result would be some combination of spending cuts and tax increases that would weaken the economy in 2013.  A settlement, however, is far from a done deal as both sides remain far apart and determined to defend their positions.  Far worse, if the debt limit is not raised or eliminated, the effect on the economy and markets could be disastrous. Republicans are insisting on major ... Read More

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