Mendoza School of Business

Debt ceiling dilemma could affect your wallet

Published: July 14, 2011 / Author: John Paul

economists fear if debt ceiling debate is not resolved, it could create
problems in the economy.

When the nation’s economy is growing
at a fast enough pace, our debt does not grow. But right now the economy is not
growing fast enough. That has politicians on edge, and a debt ceiling debate is

Tom Cosimano, an economics professor
at the University of Notre Dame, said if you aren’t following the developments
in Washington D.C., maybe you should.

“This raising of the debt limit
has to deal with the long term fiscal position of the government — what’s going
to happen in the next 10 to 20 years,” Cosimano said.

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