We Hit the Debt Limit. What Happens Now?
https://www.nytimes.com/interactive/2023/05/08/us/debt-limit-congress-yellen.html
https://www.nytimes.com/interactive/2023/05/08/us/debt-limit-congress-yellen.html
What would happen if the United States defaults on its debts?
https://www.washingtonpost.com/opinions/2023/05/04/debt-ceiling-default-us-treasurys/
https://www.washingtonpost.com/opinions/2023/05/04/debt-ceiling-default-us-treasurys/
Bets Offering 2,400% Payout on US Default Lure Growing Crowd
https://www.bloomberg.com/news/articles/2023-04-28/bets-offering-2-400-payout-on-us-default-lure-growing-crowd
In what is a traditionally moribund corner of Wall Street, speculators are piling into a bet that once seemed unthinkable: that the US government will default on its debts.
With the Treasury Department inching ever closer to running out of cash — most estimates give it another few months — trading in the derivatives, known as credit-default swaps, is growing. The amount of money tied to the contracts, which will reward investors if the US misses any payments, has increased roughly eight-fold since the start of the year.
In what is a traditionally moribund corner of Wall Street, speculators are piling into a bet that once seemed unthinkable: that the US government will default on its debts.
With the Treasury Department inching ever closer to running out of cash — most estimates give it another few months — trading in the derivatives, known as credit-default swaps, is growing. The amount of money tied to the contracts, which will reward investors if the US misses any payments, has increased roughly eight-fold since the start of the year.
Defaulting on the national debt is much closer than anyone realizes
MY TAKE: America’s long-term fiscal sustainability challenge
https://thehill.com/opinion/finance/3965613-americas-long-term-fiscal-sustainability-challenge/
https://thehill.com/opinion/finance/3965613-americas-long-term-fiscal-sustainability-challenge/