What happens if the US defaults on its Debt?
A few hours ago the House of Representatives narrowly passed a bill to raise the US government's debt ceiling, including significant spending cuts over the next decade. The bill passed by Republicans in the House aims to boost Washington's borrowing capacity by $1.5 trillion, or until March 31, 2024, whichever comes first. The bill is not expected to pass the Senate and President Joe Biden would veto it if it did. The current political maneuver of passing an economic bill
Source: techstory.in
