Question

Today the United States Debt Ceiling will be reached in the amount of $31.4 trillion Dollars. The Debt Ceiling is the United States Credit Card and allows the government to spend money on programs and projects. If an agreement is not made to raise the Debt Ceiling what Economic Ramifications would that mean for the Country and Citizens?

Answer 1

Economists say consequences of a default on the national debt could include higher interest rates, a stock market crash, a recession and massive job losses.

Step-by-step explanation: