Before Default, Let Republicans Bump Up Hard Against The Debt Ceiling By Joe Conason
A prolonged confrontation over the nation's debt ceiling -- unlike the "fiscal cliff," which provoked many scary headlines -- could truly be grave for both America and the world. While press coverage often mentions the possibility of lowered credit ratings for the U.S. Treasury (again), that might only be the mildest consequence if Republicans in Congress actually refuse to authorize borrowing and avoid default.