8/18/2023 0 Comments Negative words that start with e![]() ![]() Table 1: Estimated Economic Effects of Debt Ceiling Standoff: Q3 2023 A protracted default would likely lead to severe damage to the economy, with job growth swinging from its current pace of robust gains to losses numbering in the millions. government were to default on its obligations-whether to creditors, contractors, or citizens-the economy would quickly shift into reverse, with the depth of the losses a function of how long the breach lasted. Analysis by CEA and outside researchers illustrates that if the U.S. ![]() debt ceiling would likely cause severe damage to the U.S. Real time data, shown below, indicate that markets are already pricing in political brinkmanship related to Federal government default through higher risk premia.Īn actual breach of the U.S. debt ceiling could cause significant disruptions to financial markets that would damage the economic conditions faced by households and businesses. Department of the Treasury suggest the United States is rapidly approaching the date at which the government can no longer pay its bills, also known as the “X-date.” History is clear that even getting close to a breach of the U.S. New analyses by both the Congressional Budget Office and the U.S. Get Involved Show submenu for “Get Involved””.The White House Show submenu for “The White House””.Office of the United States Trade Representative.Office of Science and Technology Policy.Executive Offices Show submenu for “Executive Offices””.Administration Show submenu for “Administration””.
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