Economy

U.S. Default This Fall Would Cost 6 Million Jobs, Wipe Out $15 Trillion in Wealth, Study Says

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2 years ago

September 22, 2021

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Photo of the Capitol at sunset in Washington

If Congress fails to increase the debt limit, the Treasury would be unable to pay debts as they come due. (AP Photo/J. Scott Applewhite)

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According to a new analysis, the United States could plunge into an immediate recession if Congress fails to raise the debt ceiling and the country defaults on its payment obligations this fall.

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U.S. Default This Fall Would Cost 6 Million Jobs, Wipe Out $15 Trillion in Wealth, Study Says

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U.S. Default This Fall Would Cost 6 Million Jobs, Wipe Out $15 Trillion in Wealth, Study Says

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