Tuesday, May 2, 2023

House Democrats Move to Force a Debt-Limit Increase as Default Date Looms; What happens if we default?

 House Democrats Move to Force a Debt-Limit Increase as Default Date Looms - The New York Times (nytimes.com)

The debt limit: What is it and what happens if Congress fails to act? : NPR (Great piece to see the debt up close)

If the US defaults on debt, expect the dollar to fall – and with it, Americans' standard of living (theconversation.com) (Although this is from 2021, it is probably the best in terms of outlining the effects)

5 ways a debt default could affect you | CNN Politics 

The U.S. Is At Risk Of Defaulting On Its Debt: Here's What That Means For Lending | Bankrate

What Will Happen When the Government Can’t Pay Its Bills Anymore? (investopedia.com)

Representative Mark DeSaulnier, Democrat of California, at a hearing in 2019. He introduced the 45-page legislation without fanfare in January.Credit...Pool photo by Patrick Semansky