Economic outlook grim if no debt deal reached

WASHINGTON — Hor­ror sto­ries are fly­ing about the dam­age that might be wreaked should Con­gress and Pres­i­dent Barack Obama fail to cut a deal by the Aug. 2 dead­line to increase America’s bor­row­ing limit. Nearly every Amer­i­can is in harm’s way, either directly or indirectly.