The problem is no knows how much the US credit rating will drop if a default occurs. No one knows how far a world economy would sink as the world standard dollar sinks. No one knows how high credit card fees and rates will go.


Republicans say there will be no default, Tea Party says a default doesn't matter and there will be no compromise, even after Obama agreed to cut SS MEdicare and mediaid. Republicans say Obama had no plan, but he had 3. Republicans say he is liar. Republicans say he is formenting class warfare and scaring old people.

It really seems that this is the Limbaugh strategy of creating an American failure that will make Obama a failure.



There is one thing I know for sure. If a default happens, even by a small delay, it will be a monumental first.