Failure To Raise The Debt Ceiling Is Bad For Business

Huffington Post

Headlines have dubbed it “unthinkable,” and businesses small and large have urged lawmakers for months to agree soon to ensure the country doesn’t default on its debt. But next week’s August 2 deadline to raise the federal debt ceiling looms, and a recent deal that could have resolved the issue fell through because some lawmakers couldn’t abide elimination of special tax breaks used mostly by the most affluent. It’s alarming that lawmakers have taken the debate so close to the wire, considering the havoc a default would wreak on small businesses and the economy as a whole.

With each passing day that politicians fail to make a deal, economic uncertainty grows, shaking the environment for small and large businesses alike. Unfortunately, the clock is still ticking and that last minute is fast approaching.

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