Economists: Failure to raise debt limit could lead to recession - The Hill's On The Money
The letter is signed by 235 prominent economists, including six Nobel Laureates, and was released by the groups Wednesday.
"We, the undersigned economists, urge Congress to raise the federal debt limit immediately and without attaching drastic and potentially dangerous reductions in federal spending. 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," the letter states.