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If the GOP Congress doesn't raise the dept ceiling, will the stock market crash?

Assuming that it'll cause interest rates to spike...

Update:

correction... meant 'debt'

Update 2:

"We the People" ....I'm referring to the House Republicans, trusting the GOP with the House is turning out to be America's biggest mistake.

6 Answers

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  • Bill
    Lv 7
    8 years ago
    Favorite Answer

    If the debt ceiling is not raised by October 17, yes the market would crash horrifically. But that won't happen because even if Congress doesn't raise the debt ceiling, Obama will direct the treasury to borrow and Congress won't be able to stop him. But that won't happen either because the GOP House will cave before Oct. 17.

  • Spook
    Lv 7
    8 years ago

    They already have voted to fully fund the package including the ACA. The only thing they are asking for in return is a one year delay on the mandate portion of the health care law. This is no different than Obama did (illegally) for businesses. Why should citizens not have the same advantages as businesses in complying with the law?

    Reid and Obama have been offered what they asked for and still Reid refuses to meet in conference or allow the bill to the floor of the Senate.

    They could care less what is good for the country, they are only interested in what political capital they think can gain from the shutdown.

    The mistake was trusting our government to the hands of Obama and Reid.

  • 8 years ago

    There is no "GOP congress"

    Harry n the Dems control the Senate. And the Dems have Obama in the White House.

  • 8 years ago

    Ask Harry Reid, he controls the Senate...

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  • HD
    Lv 7
    8 years ago

    yes it probably will crash.

  • Anonymous
    8 years ago

    yes

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