What are the risks involved with having a child with your second cousin?

Genetic issues: Some geneticists believe that each of us carry recessive genes to an average of 4 problems. Things like cystic fibrosis, PKU and lesser known diseases. The closer you are genetically to a spouse, the more likely one of these will come together and result in a baby with an incurable genetic disorder or defect. The closest would be sibs, then cousins, then 2nd cousins,etc.