75: “Catastrophic” Consequences of the US Defaulting on Its Debt w/Sarah Ewall-Wice
The US debt ceiling has been hit; what happens next could send ripples through the economy. But is now the time to panic? Or is there still time to solve this situation? With the US economy relying so heavily on borrowing, the prospect of being unable to pay back its debts could come with a series of “catastrophic” consequences. Higher mortgage rates, a market crash, and an even harsher recession could be on the horizon. But what’s the likelihood of this happening? And are we really on the cusp of a debt debacle?
We brought on Sarah Ewall-Wice, Washington D.C.-based reporter, to help explain…
The skinny
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