“There Will Be Blood”: S&P Warns Failure To Raise Debt Ceiling Would Be “More Catastrophic Than Lehman”

With just one month left until the Treasury “X-date”, or the moment when it would run out of cash without a debt-ceiling resolution…

… the time has come for dire, apocalyptic threats to spook Congress into action and specifically reaching a compromise on a debt ceiling resolution, and S&P – which infamously downgraded the US in 2011 during the last debt ceiling fiasco – is happy to be the source of bad news.

This post was published at Zero Hedge on Aug 30, 2017.