22 min listen
The doomsday scenarios if the U.S. defaults
FromPost Reports
ratings:
Length:
24 minutes
Released:
May 17, 2023
Format:
Podcast episode
Description
Today on “Post Reports,” what could happen if the United States government fails to raise the debt limit by the deadline.Read more:Yesterday, President Biden met with congressional leadership to talk about the “X date”; that’s the date after which the Treasury projects the U.S. government would no longer be able to pay its bills. The “X date” is June 1, and if a deal isn’t struck by then, the United States would default on its debt.If the United States were to default, that could mean a variety of catastrophic economic consequences: millions of federal workers furloughed; Social Security and Medicare payments suspended; a stock market collapse; an economic recession.White House economics reporter Jeff Stein explains these “doomsday” scenarios and breaks down what could happen to the U.S. economy, and even the global economy, if a deal isn’t reached.
Released:
May 17, 2023
Format:
Podcast episode
Titles in the series (100)
The story behind a global e-scooter recall: Peter Holley investigates the dangers of e-scooters. Philip Rucker debriefs on the president’s surprise trip to Iraq over this tumultuous holiday. Plus, Chuck Culpepper revisits a Kentucky town haunted by a high school football loss from 25 years ago. by Post Reports