Kangayappan: Default would pose additional obstacles

There was a collective sigh of relief late Sunday as congressional leaders and President Obama struck an 11th-hour deal to avoid a potentially catastrophic default on the nation’s debt. And while many pundits and politicians won’t completely relax until the measure is passed and signed, the agreement nonetheless is regarded as a positive step. Our own Prof. Kumar Kangayappan, of Urban and Regional Studies, weighed in on the consequences of default for a story that aired last week on NBC26. Among other things, Kangayappan said, default would mean more financial obstacles for consumers trying to secure a loan. Read more.