[FlamesAddiction]

I've been reading a little about this on internet forums, so as you'd expect, everything that I am hearing is complete doom and gloom. I don't know what is fact and what is just fearmongering by biased sources. From what I read, people are making it sound like the Republican party is willing to sacrifice the American economy and destroy Obabma by refusing to sign off an anything Obama wants to do to control the crisis. They want to see things go down the drain so that Obama's name and the Democrats are forever associated with the economic collapse. Similar to how Jay Feaster will forever be associated with losing Tim Erixon in some people's minds even though he was pretty much powerless.

Again, I don't want to say that the above statement is fact, but it does seem like it is a growing opinion among a lot of people.

So what is the worst case scenerio? If the Republicans can't get onside with Obama and the U.S. defaults on August 2nd, are we looking at a catastropic economic collapse?