The News of USA defaulting on its debt on the 30th September 2021 (US Federal Govt Fiscal Year End and deadline to pass a funding measure) has been around for a while amidst the tussle in the US Congress for needed measures like increasing their Debt ceiling etc.
What possibility do you see of that happening and what could be the impact (and scale) of such default on the Markets in USA and around the World?
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Yes, Understood. Read about the Republicans pressure and reason to refuse on this at the Senate, and the counters by Democrats regarding this.
the congress always raises its ceiling, every few months there a cry about it and then everything goes back to normal