Page 4 - Us Default News Today

Global equities rise as U.S. debt talks resume, while gold prices decline amid hawkish remarks from the Federal Reserve.

Without a debt ceiling deal, the U.S. could begin defaulting on its obligations and trigger financial chaos starting as soon as June 1.

Without a debt ceiling deal, the U.S. could begin defaulting on its obligations and trigger financial chaos starting as soon as June 1.

Major players in the financial system are pondering the unthinkable as the US inches closer to an unprecedented default.

Learn about the potential "catastrophic" consequences for the US economy if a default occurs. Discover the key points of contention, including budget cuts and raising the debt ceiling.

Failing to lift the debt ceiling has catastrophic effects for the US and the world. It could bring down the entire international financial system. This in turn could devastate the world gross domestic product and create mass unemployment

US president Joe Biden has been considering the ‘14th Amendment’ option to avert a debt ceiling crisis, as the deadline to resolve an impasse on lifting the borrowing limit fast approaches. There could be legal challenges if the 14th Amendment is invoked, but not doing so poses risks too

The U.S. Treasury warns that it might exhaust its ability to borrow money as early as June 1 if Congress does not raise the debt ceiling.

President Joe Biden emphasizes that a US default is not an option in discussions with Republican lawmakers regarding the debt limit. Progress has yet to be made, and the consequences for the world's largest economy remain at stake.

House Speaker Kevin McCarthy said the US would not default. But he is still linking that issue directly to spending cuts in a way that Joe Biden wants to avoid. His debt limit bill would reverse discretionary spending to 2022 levels, then place a one per cent cap on increases going forward