Many Americans are worried about what's going to happen if Congress fails to reach a deal on the debt limit by August 2nd.

But WOKV's consumer warrior says there should be nothing to worry about.

"This is a manufactured crisis," says Clark Howard, who can be heard weeknights from 6-9 on WOKV.

"There is not a real crisis today.  And the truth is -- the real problem is the obligations that we promised to people down the road."

Specifically, Howard is referring to the entitlement programs -- Medicare, Medicaid and Social Security.

He says that's the real fat in the American budget.

"I've got to congratulate Congressman Paul Ryan (R-WI), because he's the only one, other than Senator Tom Coburn (R-OK), who have actually said this is the real deal.  We have to choose -- do we want the government to provide these things for us?  If we do, it's going to cost this much.  Here's an alternative plan where the government doesn't provide these things."

Howard says the crisis will have no meaning in the short term, saying it's more of an issue of how we're looked at around the world as no longer being the "old reliable."

"When the tiny country of Switzerland and the Swiss franc becomes the new safe harbor as it's been over the last week, that tells you that the world doesn't know if we can be counted on."