America’s debt ceiling Hitting the roof

The claim of this article is the subhead that “if congress fails to lift the limit on America’s debts, the consequences are uncertain but definitely unpleasant”. The author gave the current situation of “shutdown” in the beginning, and stated that even though both political and economic consequences are slight now, there is a possibility that some worse happen. There are some potential results given in the article as evidence to prove the claim. One is that the possibility to be unable to pay the bills would cause chaos in financial markets. Also the fear would play havoc with global financial system, even causing the markets to seize up. Meanwhile, the author argued that these results may not cause too much trouble. The evidence is both sides want to raise the debt limit before deadline. And if the debt ceiling is not raised, many people believed that America would pay the interest first, which won’t save the economy but won’t do too much harm. In conclusion, the author used many assumptions to demonstrate that the consequence of the debts may be not too severe.

http://www.economist.com/news/finance-and-economics/21587795-if-congress-fails-lift-limit-americas-debts-consequences-are