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The Lingering Effects of the Debt Impasse—Pictures The Lingering Effects of the Debt Impasse—Pictures

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The Lingering Effects of the Debt Impasse—Pictures

MIAMI - DECEMBER 07:  A bank owned sign is seen in front of a foreclosed home on December 7, 2010 in Miami, Florida. Foreclosure sales made up 39.7 percent of home sales in Miami-Dade, Broward and Palm Beach counties, up from 34.02 percent the previous quarter, according to a recent report by real estate research firm RealtyTrac.  (Photo by Joe Raedle/Getty Images)(Joe Raedle/Getty Images)

photo of Jim Tankersley
July 29, 2011

Damage Already Done by Debt Deal

By bickering over the debt limit, lawmakers have forced investors, consumers, and job creators to seriously entertain the possibility that Congress will let the U.S. government default on its debts, lose its perfect credit raing, and stop payments to people, including soldiers and retirees, who are owed money. Economists predict that the resulting damage would linger even if Washington cooks up a last-second compromise. Below are four examples of the lingering effects.

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