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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

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The U.S. Government's Debt Ceiling Shouldn't Be Raised

The U.S. government has never officially defaulted on its debt. It did default a little bit by accident in 1979. Some members of Congress have suggested that the Treasury should prioritize who gets paid. But it would be very unlikely they'd be able to even implement prioritization if it was requested or passed.

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