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7 Immediate Consequences of “U.S. Default” If Washington Doesn’t Raise the Debt Ceiling – Business AM

7 Immediate Consequences of “U.S. Default” If Washington Doesn’t Raise the Debt Ceiling – Business AM

It would be a killer combination. You can already imagine how this will spread and shake the entire financial system, ultimately crippling the economy.” Mark Zandi, chief economist at Moody’s, warns in The Washington Post Against the collapse of world trade if the US does not raise the debt ceiling.

Why is this important?

Raising the debt ceiling is a recurring theme in American politics. If the two parties fail to agree on an increase, default will become imminent, with disastrous consequences for the United States and global trade.

in the news : the Washington Post He interviewed a group of experts and listed seven repercussions that would follow a US default if Republicans and Democrats fail to reach a compromise on raising the “debt ceiling” by June 1.

  • Democrats demand a blank check; Republicans want concessions to cut costly government programs.
  • In case of disagreement, some PR

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