WASHINGTON (AP) — It might be time for another midnight ride by Paul Revere, this time warning "the creditors are coming."
Americans seem not to have awakened to the fast-looming debt crisis that could summon a new recession, imperil their stock market investments and shatter faith in the world's most powerful economy. Those are among the implications, both sudden and long-lasting, expected to unfold if the U.S. defaults on debt payments for the first time in history.
Facing an August deadline for raising the country's borrowing limit or setting loose the consequences, politicians and economists are plenty alarmed. The people? Apparently not so much.
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