Guardian: Reports that the IMF has warned the US that if does not raise its debt ceiling it could have major negative effect on the world economy. Folks lets get it straight, if the Debt Ceiling is not raised folks the US will still be able to pay its debts, send out welfare checks and the Wars in Iraq, Afghanistan Libya will not just stop. The US tax payer does not get a holiday, the tax revenue will still come in, just that Obama will have to be better spender. In short term a default is not a problem, its only a political problem, the world will not end if the debt ceiling is not raised folks. The Oval should be ashamed of itself and its scare stories that granny will not get her welfare cheque. Typical Chicago politics folks.
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