Home > Financial Markets > US debt default – what are the consequences?

US debt default – what are the consequences?

If lawmakers fail to avert a debt default, there could be a devastating impact on the national economy: mortgages soaring, consumers unable to borrow, the government forced to pay more to borrow more, plunging us deeper into debt. PBS Economics correspondent Paul Solman reports on how the bond market is anticipating the situation. Features former IMF Chief Economist and now MIT Professor Simon Johnson.

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