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perils of debt ceiling crisis

A gun shot to the head: America will be seriously injured by a self-inflicted wound from our president, Comrade Obama, and our inept, money loving, and power hungry Congress.

No one knows what will happen to the economy if lawmakers fail to reach a debt ceiling deal by Aug. 2.

Except this: It won’t be good.

For starters, interest rates could shoot up and stock prices could plummet — leaving Americans less well off and less willing to spend, to say nothing of having less economic confidence going forward. The same goes for business owners and investors.

Read the happy news at CNNMoney.com

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