Michael Fischer on Nostr: What Happens if the US Defaults on its Debt? Posted May 16, 2023 by Nick Maggiulli On ...
What Happens if the US Defaults on its Debt?
Posted May 16, 2023 by Nick Maggiulli
On January 19, 2023, the U.S. federal government hit its $31.38 trillion debt ceiling and has since been unable to borrow more money. To get by, the U.S. Treasury has resorted to “extraordinary measures” (including redeeming investments from government pension funds) to continue funding its operations.
Unfortunately, these extraordinary measures are dwindling. As U.S. Treasury Secretary Janet Yellen recently noted, unless Congress raises (or suspends) the debt limit, the U.S. government may run out of money as early as June 1.
Read more here:
https://ofdollarsanddata.com/what-happens-if-the-us-defaults-on-its-debt/Published at
2023-05-16 19:35:04Event JSON
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"content": "\nWhat Happens if the US Defaults on its Debt?\n\nPosted May 16, 2023 by Nick Maggiulli\n\nOn January 19, 2023, the U.S. federal government hit its $31.38 trillion debt ceiling and has since been unable to borrow more money. To get by, the U.S. Treasury has resorted to “extraordinary measures” (including redeeming investments from government pension funds) to continue funding its operations.\n\nUnfortunately, these extraordinary measures are dwindling. As U.S. Treasury Secretary Janet Yellen recently noted, unless Congress raises (or suspends) the debt limit, the U.S. government may run out of money as early as June 1.\n\nRead more here: https://ofdollarsanddata.com/what-happens-if-the-us-defaults-on-its-debt/",
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