What Happens If the U.S. Defaults on Its Debt?

While many economists say a genuine default is unlikely because politicians in Washington will ultimately agree on a way to raise the debt ceiling, naysayers in Washington have downplayed the potential consequences such as higher interest rates and inflation.

Source: http://feeds.abcnews.com/click.phdo?i=ae3db5cbc5b4b7b7215cde2cd97ae3ee

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