Fears of a US debt default are mounting as the deadline to lift the borrowing limit looms. Here's what Elon Musk, Paul Krugman and Jamie Dimon have warned.
Investors anxiety over the risk of a US debt default is mounting rapidly as a months-long political deadlock over the government's borrowing limit continues.
The debate has garnered a range of insightful commentary from top voices, with some warning of a growing risk that the US could fail to repay the money it owes - with dire economic consequences. "You might ask how we're supposed to enforce a debt ceiling if the government can play games with the definition of debt. But the answer, of course, is that we shouldn't have a debt ceiling. The government should make decisions about taxing and spending, and consider the fiscal consequences, without creating an additional choke point that extremists can weaponize," he added.
He said he doesn't expect the US to experience a debt default, but the deadline to reach a deal is soon approaching.
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