2011 debt-ceiling showdown didn't stall economy, only confidence

It’s not just the possibility of a default that has some lawmakers and business leaders worried as the Oct. 17 deadline to raise the debt ceiling approaches. It’s also the chance that merely coming close to the deadline could cause enough fear to hurt the economy.

In warning about the dangers of another near-crisis involving the debt ceiling, President Obama’s top economic adviser, Gene Sperling, compared the 2011 debt limit debate to the Sept. 11 terrorist attacks or Pearl Harbor in its effects on consumer confidence.