Minnesota Officials Foresee Costs If Feds Default
Fresh off a government shutdown, Minnesota could face higher borrowing costs and potential cash flow problems if the federal government defaults on its debt.
Watch CBS News
Fresh off a government shutdown, Minnesota could face higher borrowing costs and potential cash flow problems if the federal government defaults on its debt.
If a deal is not reached over raising the federal debt ceiling, the real estate market would be put in an especially tough position.
The tortured debate in Washington, D.C. continues as lawmakers are no closer to making a deal to solve the federal debt crisis.
Republican presidential candidate Michele Bachmann says she opposes GOP House Speaker John Boehner's plan to increase the federal borrowing authority.
Many Americans are taking notice of the hard party lines drawn in the race to loosen the bipartisan debt limit dead lock. One expert said if a deal is not reached, the average person would be impacted.
When it comes to credit, we all have our limit. And the U.S. government has maxed out its $14.3 trillion debt ceiling. So what happens if the limit isn't raised? What happens if the United States can't pay its bills?
Presidential candidate Michele Bachmann says she's not worried about the nation defaulting if the debt ceiling isn't increased.
Former Minnesota Gov. Tim Pawlenty, a potential GOP presidential candidate in 2012, says he opposes raising the nation's debt ceiling and is urging Republicans in Congress to do the same.
Republican Rep. Michele Bachmann of Minnesota is asking people to sign an online petition to urge their representatives not to increase the debt limit.
