The debt ceiling impasse is a monster story and, once again, it tops our Weekly News Wrap-Up (WNW) on USAWatchdog.com. I have been saying for more than a week Congress is going to miss the August 2nd deadline for getting a deal done to avoid default. Yesterday did not change my mind. The two parties are as far apart as ever. The U.S. will not default on Treasury debt, but many bills are not going to be paid. The big worry is a credit downgrade, and that will surely spike interest rates. Other stories in the WNW: the real amount spent on the 2008 meltdown to prop up foreign and domestic banks and companies, more houses showing up in shadow inventory of the banks, and why gold is not in a bubble.
Greg is the producer and creator of Greg Hunter’s USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. Greg Hunter’s USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.