10/07/2013 08:36 am ET Updated Dec 07, 2013

'An Economic Calamity Like None The World Has Ever Seen'


Anyone who remembers the collapse of Lehman Brothers Holdings Inc. little more than five years ago knows what a global financial disaster is. A U.S. government default, just weeks away if Congress fails to raise the debt ceiling as it now threatens to do, will be an economic calamity like none the world has ever seen.

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