7/23/11 – The chairman of the Republican National Committee says President Obama will take the blame if Congress fails to reach an agreement on raising the federal debt limit. Reince Priebus says the American people know the economy is bad because of Obama’s failed policies. Politicians in both parties say they believe the country will face economic catastrophe if the 14 trillion dollar debt limit isn’t increased by August 2. Priebus was in Arkansas last night at a Republican fundraiser. His is the former chairman of the Wisconsin Republican Party.