Debt ceiling delay: Gun shot to the economy

Townhall.com Staff
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Posted: Jul 18, 2011 1:48 PM
Debt ceiling delay: Gun shot to the economy
NEW YORK (CNNMoney) -- 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.