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GoBankingRates.com reviews Republican point of view on the financial impact and political reality of the government shutdown, Obamacare and debt ceiling standoff in new article.
LOS ANGELES, Oct. 10, 2013 /PRNewswire/ -- New GoBankingRates.com analysis finds America has raised the debt ceiling 78 times, contributing to Americans' lack of insight into what a default on the country's debts would truly mean.
Below is a preview of the investigation:
A recent Reason-Rupe survey found 55 percent of respondents prefer a debt ceiling reduction even at the cost of default, while a Gallup poll found 42 percent of respondents wanted their Congressman to vote against the raise, 22 percent wished for a vote in favor of the raise and 35 percent were unsure.
Economic Scenario If Debt Defaults
Affordable Care Act is 'Massive Entitlement'
Romina Boccia of the Heritage Foundation told GoBankingRates, "The Affordable Care Act is another massive entitlement. If it were to be implemented fully, the cost was estimated by the Congressional Budget Office at $1.8 trillion."
Boccia also expressed the 'trajectory' in the U.S. budget is not sustainable, suggesting the net effect of the Republican posturing will impact the economy, but it will be better in the long-term. "The economy might slow a little bit, and workers are home making their own sandwiches, but troops are getting paid and these federal workers have usually received their back-pay whether they were furloughed or not."
Read the entire article: http://www.gobankingrates.com/economy/house-republicans-united-states-economy-heroes-traitors/
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