Michael Strain on Averting the Looming Debt Ceiling Disaster
Macro Musings with David Beckworth
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Is There a Debt Silling Disaster?
Some Republicans have used the analogy of a child who has lived recklessly on their credit card. If you don't pay off the credit bill, there's going to be a credit risk added to that person in this case to the US government. There are ways in financial markets to ensure against the risk of US default. But if we actually do default, rather than Congress swooping in at the 11th hour and raising the debt ceiling, I would expect substantial consequences.
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