If we do its a 4-5 points of GDP impact in 1Q13. Based on forecasts of 1-1.5% GDP growth in 4Q12 we would be looking at a 2.5-3.5% GDP contraction in the first quarter. It will abate from there but 2Q13 will also be negative which will be a technical recession. The writes have been counting on a deal. We cold see a 10-15% correction if the above scenario happens. Then we hit the debt ceiling in February...
We're going to have to ween the freeloaders from the public teat sooner or later. We might just as well get it over with now (before they breed another batch).
"Stay prepped, my friend."
Nope. It’s not near that much.