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Default On Debt: Why It Will Be Harder For Ordinary Americans To Borrow Money

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As a rain moves in, the Capitol building is reflected in a pool of water on Capitol Hill in Washington, Wednesday, July 13, 2011, as budget negotiations continued. (AP Photo/Carolyn Kaster) |

It’s easy to understand why the government will have more trouble borrowing if it fails to pay its debts. It’s a bit harder to see why ordinary Americans, the city of Pittsburgh, hospitals in Iowa, or medium-size corporations will have more trouble borrowing.

But they will.

Read the whole story at The Washington Post

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