Are Default Fears Overblown? [POLL]

Governor Rick Perry isn't buying what federal officials, and President Obama are selling when it comes to the United States August 2nd deadline. According to the Texas Tribune:

“There’s still gonna be revenues flowing in, so I think this threat that somehow or another the world is going to come to an end and the threat of  'We’re not going to be able to pay our bills' is a bit of a stretch,” Perry told reporters in Houston. “Most Americans know this: We’ve spent too much money. We’ve gotten our house in bad shape, and we need to stop spending.”

So what do you think? Are officials in Washington playing up the fear or should we be worried about what will happen if lawmakers don't raise the debt ceiling by August 2nd? Let us know what you think in today's LFN Poll of the Day.