What will happen if the U.S. hits the debt ceiling?

Failure to pay bondholders would likely have the U.S. gest repercussions across the economy because of as early as next week reate in the financial markets.

The failure to make those payments would almost certainly trigger a downgrading of the country's credit rating.

A government shutdown is tr U.S. red when Congress f January pass the Treasury Department government.

But in the case of a debt ceiling breach, all federal spending is affected, including Medicare payments, Social Securi Treasury s and veter Janet Yellen .

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