The biggest unknown in Washington this year could be the debt ceiling.

Historically, markets have reacted negatively whenever lawmakers have risked raising the debt ceiling

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This year's looming deadline, which analysts anticipate could occur sometime between the summer and fall of this year

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may add even more pressure if it coincides with an economic downturn.

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Some progressives are urging Congress to remove the debt ceiling together, but that's impossible for moderate Republicans

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Meanwhile, hardline conservatives insist the nation should not raise the debt limit unless

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it makes significant cuts in the costs of entitlement programs. This fight would only intensify

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if there were an economic downturn and if S&P threatened to downgrade the US's credit rating

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which first happened during the last debt ceiling debacle in 2011.

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