Latest topics
» I see this board has been quiet
Tue Jun 07, 2016 1:24 pm by Knight1009

» Hello Ya'll. *Theirmommie*
Tue Nov 17, 2015 9:42 am by my_lucid_bubble72

» 20 % of Americans Struggle To Buy Food
Thu Jul 16, 2015 1:00 pm by pbrad009

» The Make Some One Day Challenge
Wed May 27, 2015 12:32 pm by Prof_NSA

» Clues to why they not hiring you
Sun Apr 05, 2015 5:25 pm by Sandra5yearsunemployed

» New Year Nothing Change
Tue Jan 20, 2015 5:48 pm by Prof_NSA

» UF2 Members Chat Thread: Part 3
Mon Jan 19, 2015 4:01 pm by member

» Passed?!?! H.R. 3979: Emergency Unemployment Compensation Extension Act of 2014
Fri Dec 19, 2014 4:24 pm by charliekerper

» Forbes: America's #1 Problem is Jobs, Not Debt
Sat Nov 15, 2014 10:50 pm by jmainframe

» Economy just getting worse
Mon Oct 06, 2014 12:16 pm by oncemore

» UFO 2.1 VIDEO JUKEBOX - Our Chords & Keys To Ascension
Mon Oct 06, 2014 6:33 am by 

» January Jobs Report: U.S. Economy Adds 157,000 Jobs; Unemployment Rate Up To 7.9 Percent
Fri Oct 03, 2014 11:23 am by DesperateInRI

» Hey Guys!!!!
Mon Sep 29, 2014 9:17 am by pbrad009

Thu Sep 25, 2014 11:56 pm by pbrad009

» things are going to get worst
Sun Sep 21, 2014 7:51 pm by 

Social Networks
October 2016

Calendar Calendar

Debt ceiling FAQs: What you need to know

View previous topic View next topic Go down

Debt ceiling FAQs: What you need to know

Post by Guest on Thu Jun 30, 2011 11:45 am

Ultimately, if lawmakers fail to raise the ceiling this year, they will have two choices, both awful.

They could either cut spending or raise taxes by several hundred billion dollars just to get through Sept. 30, which is the end of the fiscal year. Or they could acknowledge that the country would be unable to pay what it owes in full and the United States could effectively default on some of its obligations.

The first option would be impossible to execute without serious economic repercussions.

And the second option could cripple the economy and send world markets into a tailspin.

"Not only the default but efforts to resolve it would arguably have negative repercussions on both domestic and international financial markets and economies," according to the CRS.


Back to top Go down

Re: Debt ceiling FAQs: What you need to know

Post by MoInSTL on Thu Jun 30, 2011 1:13 pm

Only have to look at what's occurring in Greece to see what would happen.


Posts : 317
Join date : 2011-02-17
Age : 61

Back to top Go down

View previous topic View next topic Back to top

- Similar topics

Permissions in this forum:
You cannot reply to topics in this forum