Will the US default on debt on 1 June? A really simple guide to debt ceiling
The US government could start to run out of money within weeks – how did we get to this point? …
If the government stops making interest payments on its debt, that would also put the country into default. The US briefly entered default in 1979, which the Treasury blamed on an accidental cheque processing issue, but an intentional default would shock the financial system where more than $500bn in US debt gets traded every day.
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