Debt Ceiling: Could A Deal Cost the Economy a Million Jobs?

[FreakinDJ]

Source: Stephen Gandel

Debt Ceiling: Could A Deal Cost the Economy a Million Jobs?

There has been a lot written about what would happen if the government doesn't end up raising the debt limit. My colleague Alex Altman perhaps puts it best in this Swampland post, when he says:

On one side, the Obama Administration, Capitol Hill Democrats, Wall Street whizzes and budget experts have been wearing out their thesauruses looking up new words for “catastrophe” as they try to explain to the public that failing to raise the $14.3 trillion federal debt limit by Aug. 2 would result in a radically different country on Aug. 3.

And over at Moneyland, Josh Sanburn has dug a little deeper to explain what a debt default would feel like for the average American. The effects on the stock market might be temporary - a drop followed by a rebound when a deal is struck. Mortgage rates, though, would be likely to rise and stay there even after an eventual deal, which, all things being equal, is likely to keep housing prices depressed.



Read more: http://curiouscapitalist.blogs.time.com/2011/07/19/debt-ceiling-could-a-deal-cost-the-economy-a-million-jobs/?hpt=hp_t1

[dipsydoodle]

1. Of late I'd concluded that the sole concern of most here was Murdoch

Do jobs matter too ? :sarcasm:

In the UK most are more preoccupied with jobs, housing , rising fuel costs etc and don't really give a shit, outside of the Milly Dowler case, about News International antics.

[w4rma]

2. Murdoch is a persistant long term problem. He promotes policy that causes job losses. (nt)

[Bragi]

3. Whya re we unable to follow 2 things at once?

I don't find it difficult to care about the Murdochs and jobs at the same time.

In fact, thinking about several things at once appears to be the norm for most people, both individually and collectively.

[AndyTiedye]

4. Murdoch is Most of the Reason We Are IN This Situation

Without Faux, would the Teabaggers ever have gotten off the ground?

Would Bush2 even have been able to steal the 2000 election without a lot of help from Faux News?