Raising the debt limit
House Republicans won't raise the debt limit?
The full consequences of a default, or even the serious prospect of default, by the United States are impossible to predict and awesome to contemplate. Denigration of the full faith and credit of the United States would have substantial effects on the domestic financial markets and the value of the dollar in exchange markets. The Nation cannot afford to allow such a result. The risks, the costs, the disruptions, and the incalculable damage lead me to but one conclusion: the House must pass this legislation before the Congress adjourns.