U.S Treasury In Danger of Defaulting this Summer.
Today we will look at a problem that is starting to show itself on the radar and that is the U.S. Treasury debt ceiling.
Back in 2011, the U.S. Treasury came close to defaulting while the White and Congress dithered about raising the debt ceiling. Back then Debt Ceiling crisis led to S & P downgrading the U.S. and also resulted in an almost 50% gain in the price of gold.
Treasury warns of need to deal with national debt limit: https://apnews.com/article/financial-markets-national-debt-health-coronavirus-pandemic-government-and-politics-a95665cfc7fbd8504fc91fdb2a6eb861
United States debt-ceiling crisis of 2011: https://en.wikipedia.org/wiki/United_States_debt-ceiling_crisis_of_2011#:~:text=The%20United%20States%20debt%2Dceiling,is%20normally%20raised%20without%20debate.
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