President Barack Obama speaks in a rare prime-time address to the nation from the East Room of the White House on July 25, 2011 in Washington, DC. Obama urged passage of a resolution to the problem before the nation defaults on payments of the national debt. (Jim Watson-Pool/Getty Images)
Default and the economy
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The U.S. economy has a tough couple of years, but is showing signs of a slow recovery. But if the federal government defaults on its debt obligations, will it mean a giant step back for the fragile economy?
Economists are not in agreement about what would happen, and we'll talk about possible economic scenarios.
Guests
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Art Rolnick: Senior Fellow, Humphrey School for Public Affairs and former Senior V.P. and research director, Federal Reserve Bank of Minneapolis
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Catherine Rampell: economics reporter for The New York Times
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