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Delay debt-ceiling increase: OK?

EconoMeter panel looks as wisdom of waiting versus inviting a crisis now

Roger Showley, U-T SAN DIEGO

Friday, January 25, 2013

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Answer YES
While real decisions to begin solving the nation’s long term budget impasse would be better, if extending the debt limit is the only alternative to defaulting on paying our federal debt obligations, then the obvious answer is yes. Washington’s failure to contain the nation’s long-term spending is frustratingly maddening and it is not clear how another three-month extension will do anything but kick the can down the road yet again. But not paying our debt obligation is the worst possible scenario. Defaulting would wreak havoc not only in the U.S. but on international financial markets causing world-wide damage to the global economy.

Kelly Cunningham, National University System