Default Is Not an Option
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If Congress cannot forge a compromise on the US debt ceiling, then the unlikely scenario of default will occur. This report examines why the debt limit breach would probably cast the US and the global economy into recessions in the short run and raise borrowing costs for the US over the long run, rendering it an option that Congress should never consider.

 

If Congress cannot forge a compromise on the US debt ceiling, then the unlikely scenario of default will occur. This report examines why the debt limit breach would probably cast the US and the global economy into recessions in the short run and raise borrowing costs for the US over the long run, rendering it an option that Congress should never consider.

 

Author

Dana M. Peterson

Dana M. Peterson Dana M. Peterson

Chief Economist and Leader, Economy, Strategy & Fi…
The Conference Board

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