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The International Monetary Fund warns of severe consequences if the US defaults on its debt, urging urgent resolution. Republicans and Democrats remain divided over the borrowing limit.
If the federal government keeps going with the flow, we’re in for a painful plunge in the form of a catastrophic debt or financial crisis.
A character in Ernest Hemingway’s first novel, “The Sun Also Rises,” explains how he went bankrupt: “Gradually and then suddenly.”