Economist Stephanie Kelton on the Debt Limit, a Potential Catastrophe We’re Risking for No Reason
Deconstructed
The Fallout of the US Government Debt Crisis
I think that it certainly would have terrible effects that are predictable. It yanks tons of money out of the economy and suddenly people can't pay for all the things that they need to pay for every week, every month. My impression is also that the international financial system is so complex that literally no one can predict with any kind of certainty about what something like this would do.
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