Risks to economy

The scariest risks to the economy – CNN Money

“A Europe debt default could cause financial crises as large as the 2008 one due to financial system interconnections,” – Bill Watkins, executive director of Center for Economic Research & Forecasting.

“Oil prices sustained above $125 a barrel for six months or longer would guarantee another recession in 2012” – James Smith, chief economist Parsec Financial Management.

Though economists do see major risk from a possible US default in the event that Congress does not raise the debt ceiling, they did not view that as being very likely.

Survey: Where the economy is headed