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US default could be disastrous choice for economy
The government now borrows about 42 cents of every dollar it spends. Imagine that one day soon, the borrowing slams up against the current debt limit ceiling of $14.3 trillion and Congress fails to raise it. The damage would ripple across the entire economy, eventually affecting nearly every American, and rocking global markets in the process.Posted by: Zebulon Thranter9685 2011-04-24 |
| http://www.rantburg.com/poparticle.php?ID=321123 |