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The U.S. credit rating would almost certainly be downgraded, the White House said in a December 2021 post about the effects of a default, and interest rates would broadly rise for many consumer loans, making products like auto loans and mortgages more expensive for families who are subject to interest rate changes
What is the safest place for money if the US defaults on debt?
If the US defaults. there is no safe place to put your US Dollars. The alternatives are commodities (gold,silver,collectibles) or possibly foreign currencies (euro,pound,etc). But really, if the US defaults the best assets youll have would be canned goods and ammunition.
Who does the US owe the most money to?
What happens when we reach the debt ceiling? When the debt ceiling is reached, Congress must pass legislation to raise or suspend the limit. Failure to do so would lead to default and have catastrophic consequences for all Americans and the global economy.
What is a 6 letter word for debt?
Debt collectors are paid to make contact with you and may try reaching you directly by phone, postal mail, email, or text message. Debt collection laws are in place designed to help protect consumers, so its important to know your rights before interacting with a debt collector.
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