Forget the current government shutdown. Economists say it’s the upcoming debt ceiling impasse that could plunge the nation into a recession.
About half of the 22 economists surveyed by CNNMoney say a recession will be unavoidable if Congress fails to raise the nation’s debt ceiling before the Treasury runs out of cash later this month.
A couple more say a recession is possible depending on how far past the deadline Congress goes before acting. And even those who aren’t predicting recession say not raising the debt ceiling would be a very bad idea.
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