The US Chamber of Commerce said it would hold a vote against Boehner’s plan against lawmakers. “This legislation is critical. Default on debt obligations is not an acceptable option,” wrote the Chamber’s Bruce Josten in an alert to members of Congress. “The time for Congress to act is now.” “A default on the obligations of the United States would most assuredly cause severe, immediate, and pervasive economic harm in the form of higher interest rates, a decline in the dollar, a drop in the stock markets, higher oil prices, and the loss of economic growth and jobs,” he wrote. “Political brinksmanship is no longer an acceptable strategy for either the White House or congressional leaders.”