U.S. debt default

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Here's What Happens When We Hit the Debt Ceiling

By David Zeiler, Associate Editor, Money Morning • @DavidGZeiler - October 11, 2013

Brace yourself, because this is what a default would look like...

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Here's What Happens When We Hit the Debt Ceiling

By David Zeiler, Associate Editor, Money Morning • @DavidGZeiler - October 11, 2013

We're just a few days away from the debt ceiling deadline and still the buffoons in Washington are more concerned with extracting a political victory than with solving anything. When the best idea is to delay the problem for six short weeks, hitting the debt ceiling is a real possibility.

Brace yourself, because this is what a default would look like...

Should We Be Worried About a U.S. Debt Default?

By Money Morning Staff Reports, Money Morning - October 2, 2013

Why You Have to Be Investing in the Stock Market Now

While the stock markets so far have reacted mildly to the government shutdown, the looming Washington fight over the need to raise the federal debt ceiling could lead to a U.S. debt default.

And that, everyone agrees, would trigger a much more pronounced reaction from Wall Street.

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U.S. Debt Default Would Be Worse Than Lehman Brothers Collapse

By David Zeiler, Associate Editor, Money Morning • @DavidGZeiler - July 27, 2011

Each day that passes without a deal to prevent a U.S. debt default brings the United States closer to a financial calamity that would be more severe than the failure of Lehman Brothers in 2008.

Dueling speeches from U.S. President Barack Obama and Speaker of the House John Boehner, R-OH, Monday night did nothing to resolve the impasse between Republicans and Democrats over how to reduce budget deficits and raise the debt ceiling past the $14.3 trillion limit by Aug. 2.

The contentious rhetoric of recent days has raised concerns that lawmakers will fail to reach a compromise by the deadline - with disastrous consequences.

"I've never, never seen a breakdown like this," Paul Light, a U.S. government scholar, told Reuters. "This is a defining moment in America's inability to act."

Should the deadlock over avoiding a U.S. debt default endure past Tuesday's deadline, it will trigger a financial crisis of vast proportions:

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U.S. debt default

Featured Story

Here's What Happens When We Hit the Debt Ceiling

Article Index