Copyrighted Image? DMCA | Although official Washington is currently fixated on the so-called "Fiscal Cliff," the biggest threat to American prosperity is the debt ceiling, which must be raised in February to prevent economic catastrophe. If Republicans refuse to reach a deal on the so-called cliff, the Congressional Budget Office predicts that they will spark a new recession in 2013. But if Republicans block action on the debt ceiling, they will make that potential recession look quaint. Without raising the debt ceiling, the United States will be forced to embrace austerity so severe it will lead to "a bigger GDP drop than that experienced during the Great Recession of 2008."
But in an interview on Fox News Sunday this morning, Sen. Lindsey Graham (R-SC) threatened to oppose this must-pass bill unless Social Security benefits are taken away from millions of future retirees... |
Read the rest of the story HERE:
At thinkprogress.org
At thinkprogress.org
