Will the US Default on its Debt?
A US debt default is unthinkable.A US debt default is unimaginableA US debt default would be economic and political suicide.But could it happen?When those in power are held hostage to the extreme factions of their political parties anything is possible.This seems especially true for the Republican Party where it only takes one House member to call for a leadership vote under revised rules. This weakens the hand of Speaker McCarthy as he tried to negotiate a way out of this potential disaster.On the other hand, President Biden is not immune to pressures from the progressive wing of his party, which limits how far he can compromise.With all that said, it is hard to imagine those involved allowing the US to go into default. How
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