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By: Jonathan Kantrowitz

As discussions regarding a deal to raise the nation's debt limit continue, GOP politicking has prevented the talks from moving forward. Every day progress toward a compromise stalls, the United States speeds closer and closer to defaulting on America's debt. From massive job losses to senior citizens having to choose between paying rent and buying food, the consequences of a default are grim.

"As we continue down this reckless path, some in Washington seem giddy at the prospect of a default--that's unconscionable," Congressman Jim Himes (CT-4) said. "Are they actually hoping to benefit politically by causing millions of people to lose their jobs, forcing senior citizens who depend on Social Security checks to go without food, and pushing interest rates--for everything from college loans to new home mortgages--into the stratosphere? We simply cannot let this happen."

Here's a review of this week's warning signs that show failing to raise the debt limit would send the American economy into a death spiral.

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