>"In real terms, the nation would soon return to high unemployment rates, approaching 9% compared with its current rate of 5.2%. Also, come November 1 checks for millions of Social Security recipients would be delayed, Zandi noted. And stock prices would likely plunge by one-third, sparking that $15 trillion loss in household wealth. Meantime, mortgage rates and other interest rates for things like credit cards and auto loans would spike."

Not sure if this article is alarmist.

Wiping out 1/3 of the stock-market and spike in unemployment if true would have triggered enough entities to force a resolution.

I remember there was a debt-ceiling crisis during the Obama era as well. Is this the same old political maneuvering seen before?