What can Americans look forward to if the Republicans refuse to behave like grown ups?
Double digit interest rates, sky high credit card interest rates, even higher job loss, a lower bond rating, and a deeply devalued dollar with less buying power. What will it lead to? A second great recession even worse than the first one.
Think you can do a better job balancing the budget than your current elected official?
Try It Yourself
The federal government has an estimated $306.7 billion in payment obligations for August 2011 after the 2nd of the month. The U.S. will take in $172.4 billion in revenue from August 3 to 31, 2011. Check out the following tools to make the difficult choices that would prioritize programs and balance the books:
- Bloomberg Government's Debt-Limit Bubble tool
- PBS NewsHour's Daily U.S. Government Income and Expenditures tool
- The Washington Post's You choose: who gets paid (and who doesn’t) tool
Link to Bipartisan Policy Center blog post (including a link to an in depth analysis of the debt ceiling and the risks associated with not raising it.
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