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What Happens If The U.S. Defaults On Its Debt? Here's Why It Won't

Money For the Rest of Us

CHAPTER

The Debt Ceiling Debate

The federal government and Congress have only agreed on a budget prior to the start of the fiscal year, four times since 1974. Secretary Janet Yellen has said that the government could run out of money by June 1st. The U.S. Treasury has been implementing what are called extraordinary measures to pay the government's bills even though the debt ceiling has been reached.

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