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Discussion » Questions » Finance » Is defaulting on our debt a bad thing?
excon

Is defaulting on our debt a bad thing?

Hello:

I truly don't know what will happen if we default..  It could be a ho hum affair, or the worlds economy could crash.

What do you think?

excon

Posted - May 26, 2023
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Responses


  • 32723
    We have had gov shutdowns in the past.  Ho hum. 
      May 26, 2023 11:44 AM MDT
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  • 2787
    There is a distinction between a government shutdown and defaulting on our debt.  If you think the effects of a U.S. default is "ho hum," I suggest you read this.

    https://www.virginiamercury.com/2023/05/25/a-default-on-the-u-s-debt-would-be-far-worse-than-a-government-shutdown-heres-how/
      May 26, 2023 12:39 PM MDT
    0

  • 32723
    USA has in fact defaulted 4 separate times in our history.  Yes this will be the first time when our paper was not supposedly backed by precious metals. 
      May 26, 2023 6:24 PM MDT
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