Recession in U.S. is possible amid debt ceiling problems

Note: This section contains information in English only.
Source: Bloomberg
© Scanpix/Reuters
Treasury of the United States has warned the country's lawmakers that consequences of inaction over U.S. budget and debt ceiling will result in recession. After October 17 the government will not be allowed to borrow any sum of money, therefore it will spend the only incoming revenues. In such the case, the government will pay all the interest on debt, but it will cut other costs, including social care. 
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Wed, 09 Oct 2013 15:31:04 GMT

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