"235 Economists, Including Six Nobel Prize Winners, Call For Clean, Immediate Debt Ceiling Increase"
A group of 235 economists, including six Nobel Prize winners, wrote to congressional leaders today to call for a clean, immediate increase in the nation’s debt ceiling. “We, the undersigned economists, urge Congress to raise the federal debt limit immediately and without attaching drastic and potentially dangerous reductions in federal spending,” they wrote. “Not doing so promptly could have a substantial negative impact on economic growth at a time when the economy looks a bit shaky. In a worst case, it could push the United States back into recession.” Congressional Republicans blew up debt ceiling negotiations last week in order to protect tax breaks for the rich and corporations.