A debt ceiling breach would be bad bad bad bad bad
A debt ceiling breach would be bad bad bad bad bad
- May 24, 2023
- Eric Swanson, economics, Vox, May 24, 2023
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Nobody knows exactly what will happen to the economy if the United States breaches the debt ceiling …. The economy is quite unpredictable, but what we can predict is that the fallout would be negative. “It depends a little on what the Treasury decides to do,” said [Professor] Eric Swanson, an economist at the University of California, Irvine. “They would have to basically delay paying bills, and the question is which bills they delay paying, and the effects would depend a little bit on that.”
For the full story, please visit https://www.vox.com/money/2023/5/24/23736112/debt-ceiling-economy-default-treasury-janet-yellen-stock-market.
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