Wednesday, July 20, 2011

Thirteen Ways a Debt-Ceiling Breach Would Destroy the Economy

Poisonous partisan politics will affect all Americans if the nation loses its AAA credit rating Until recently, the idea of a U.S. downgrade was inconceivable.

But with each day that passes without Congress striking a debt ceiling deal, this possibility becomes more real.

While Washington's poisonous politics doesn't always affect most Americans, a U.S. default would have catastrophic effects from Wall Street to Main Street. Either directly or indirectly, many corners of the U.S. economy rely on the nation's creditworthiness.

In what ways might a U.S. downgrade affect you?

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