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Analysis: U.S. debt ceiling crisis would start quiet, go downhill fast

Jason Lange
Reuters [1]
October 15, 2013

If Washington doesn’t reach a deal soon to keep paying its bills, an economic crisis could start unfolding so quietly on Thursday it will give little hint of its potential to throw millions of Americans out of work.

Many people would not notice right away if the government hits a $16.7 trillion cap on its debt, which could come on Thursday.

Checks would likely go out on time that day for everyone from bondholders to workers who are owed unemployment benefits, according to analysts in government and the private sector.

“The 17th will come, the lights will still be on and everything will look normal for 99 percent of Americans,” said Steve Bell, a budget expert at the Bipartisan Policy Center in Washington.

Full article here [1]