WASHINGTON (FOX/CNN) - Economists are nearly unanimous when it comes to the dangers we all face if DC's next dust-up leads to a crisis. Later this month, Congress will have to raise the nation's debt ceiling or the U.S. will default on its outstanding bills and obligations.
It's a potential crisis that could affect us all, economists say. How?
- Your nest egg could take a hit if the stock market tanks
- Your job could be in jeopardy if defaulting causes us to go back into a recession
- Borrowing money could cost more
- Social Security payments may not be paid on time
- Other government benefits could be reduced
However, most economists expect Congress to get a deal done with the White House in time.