So what happens if by Aug. 2 no decision is made but...

[Kablooie]

nothing really happens to the economy.

We hear of terrible dire consequences but everyone says they dont' really know.

What if all these prognostications are wrong and things keep piddling along adequately?

Teapugs will be dancing in the streets I guess.
I think I'll just stay off the the streets.

[Rex]

1. Then I guess it was all just bullshit...you know, political maneuvering and such.

We will have proof on Aug. 3rd...or not. :shrug:

[bluestateguy]

2. Barclays says the real deadline is August 8-10

Some other analysts have found the same thing too.

[sunwyn]

3. This is a manufactured crisis to divert us from the real problems. The inability

Of congress to create jobs and bring America back on track. While the Tea party is doing their damnedest to destroy the president, they are pushing the Koch brothers agenda to hijack and destroy any government oversight that actually works for the people. Some people need and iq test before they reproduce. I hate to think what their children's home lives are like.

[KansDem]

9. I think you're on to something!

Some people need and iq test before they reproduce.

Instead of "Voter I.D." laws, maybe we should have "Voter I.Q" laws?

[pnwmom]

4. It's already happening. The stock market has already been dropping.

Monday and Tuesday will be worse, if things don't look hopeful. And I don't even want to think about Wednesday.

[Sherman A1]

6. Agreed

[Tennessee Gal]

5. Read this:

Debt Ceiling: What Happens If It Isn't Raised?

http://www.huffingtonpost.com/2011/05/24/debt-ceiling-what-happens_n_865016.html#s280958&title=Unemployment_Goes_Up

Very serious stuff.

[Kennah]

8. List seems incomplete

I didn't see:
- Space under bridges will be tight
- Space alongside of railroad tracks will be tight

[Kennah]

7. We'll go invade someone else

I really wanna put the sarcasm tag in this post, but I don't think that would be honest.

[MilesColtrane]

12. IF the military stops getting their paychecks, the next place they invade...

will be Washington, D.C.

[OHdem10]

10. The World is watching and depending upon us. As fragile as

our economy may be, we are the largest economy and
the largest market for other countries' goods.

Profound impact around the world. Whether the Tea Baggers
like it or not we are inter-connected by Gloablization.

We run out of money between Aug 8 to Aug 10. No lifting
of debt ceiling and the result has the same result as
a tax increase on every one of us. Interests Rates go up.
Pay more each month on Credit Card payments. Pay more
each month on Mortages, student loans etc. It spreads
to all goods and services.

[Motown_Johnny]

11. "What if all these prognostications are wrong....."

Do you really want to make that big a bet on everyone being wrong?



It would seem that at the very least our credit rating would drop so the debt problem would get worse.