• $135 Billion shortfall in August if U.S. defaults
  • Chosing winners and losers in default will mean chaos
  • $500 billionof maturing debt must be paid in August

All this and more at 7:07AM MDT today in The Morning Zone with the Watchdog on Wall Street, Chris Markowski.

Then at 7:37: Even though bin Laden is dead, is the U.S. really safer from terror attacks? Award-winning Fox News national correspondent Catherine Herridge's groundbreaking book, THE NEXT WAVE: ON THE HUNT FOR AL QAEDA'S AMERICAN RECRUITS, is the first of its kind since bin Laden's death to show what the next chapter of terrorism could look like. We'll talk with her about this.

At 8:07: Former Congressman Tom Tancredo, a champion of efforts to end illegal immigration, has publically endorsed Congressman Lamar Smith’s (R-TX) Legal Work Force Act.  This bill was introduced in the House last week and would make it mandatory for all businesses to use the E-Verify system for new and current hires.  Roy Beck — Founder and CEO of NumbersUSA — has also been outspoken about the ways this legislation will repair the broken system that currently allows 8 million illegal workers to be employed in the United States. See what he has to say in The Morning Zone.