What Happens If The US Hits The Debt Ceiling And Defaults | Insider News

Insider correspondent Eliza Relman says that if the US defaults on its debt, it would affect public housing, healthcare, and possibly trigger a global economic catastrophe.

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What Happens If The US Hits The Debt Ceiling And Defaults
Why some Democrats think Biden shouldn't worry about legal challenges that would come from getting rid of the debt ceiling forever
Biden and McCarthy had a 'productive' meeting but still can't agree on a debt ceiling solution with a default as soon as 10 days away

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What Happens If The US Hits The Debt Ceiling And Defaults | Insider News

[veronica.baker]

Some economists have projected that both the U.S. and parts of Europe could slip into a recession for a portion of 2023. A global recession, defined as a contraction in annual global per capital income, is more rare because China and emerging markets often grow faster than more developed economies. Essentially the world economy is considered to be in recession if economic growth falls behind population growth.

[SerDionysus]

What a stupid system where they never pay debt and just get the limit increased constantly

[jennifers]

So unless we keep screwing ourselves, we're screwed. Got it.

[gamingclipz]

Here’s a idea let’s make companies not over charge Americans! Our medical system charges soooo much more then most… it’s sickening people get rich off others who are sick

[ScottieBMan]

How many billions or trillions now have we sent to Ukraine? I’m not supporting Russia but just saying…

[richardnunziata]

I hope the world learns on lesson from this that America is no longer capable of being responsible to the global financial markets. An alternative must be found and soon.

[Mortequal]

And it was at this moment Mr Boggles realized that trapping farts in jars wouldn't get him through a crisis.

[RioSul]

The congess has already passed a bill to increase the debt limit. The senate and White House have done nothing with it.

[chrisandrews]

But if I max out my credit card and spend more than I make I don’t get a higher spending limit on my card. Something doesn’t add up

[Phlegethon]

Federal workers are probably so happy whenever this happens they get a free vacation

[jameschang]

Don't worry, the government will just print more money and make the ceiling higher. This is not the first time. Inflation and interest will go higher. Do you think the government officials worry about it? Of course not because they are rich and will become richer. Well, how about us? It is not their concern!

[eliasfajardo]

The "richest" country cannot even pay their own

[aaryangarg-]

Us has to grow out of the mindset that it is the front runner of economic growth yes it may have been true 50 years ago but now emerging economies like india and Vietnam are Self dependent and prosperous, anything that happens to the debt ceiling is an internal issue not a international issue

[pocalypto]

McCarthy it looks like you back the wrong horse 🤣

[fez]

Let's cut there pay and vacation time

[litchi]

The global financial systems need a drastic reform away from the US financial system.

[zrolyn]

Tips : The rich taste the best with black papper sauce.

[patrickhaarhues]

We print new doll hairs and we just keep partying until it doesn’t matter if you wipe your ass with hundred dollar bills or TP.

[maxmarx]

Real question what is the government with our tax money?

[newbiegarden]

Abolish it, problem solved. The problem is the coward politicians.