The latest prediction, this time from Jay Powell, is that the GDP will drop off by around 10 percent for the month of August if Congress doesn't raise the debt ceiling.
Put into perspective, the lowest level for the GDP during the Great Recession was around -7 percent. We're hovering around +2 percent right now. With a drop of 10 percent -- do that math. If GDP drops from its present level, the GDP would sink deeper than the Great Recession. And that's just in the first month.
Sleep tight.