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US debt default: five ways it would affect you
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Five ways US debt default would affect you
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The United States will almost certainly not default on Oct. 17. Although the federal government will have run out of authority to borrow more money, the US Treasury will have roughly $30 billion on hand to pay its bills for the next several days and, if it chooses to delay some payments, a few days more. But somewhere between Oct. 22 and Nov. 1, it will have to make hard choices about who to pay and who not to pay, according to the Bipartisan Policy Center, a nonprofit think tank in Washington. Here's how default and even the threat of default could affect you as a retiree, consumer, investor, and so on:
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Here's a breakdown of how a default or near default on US debt would affect Americans.
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By Noelle Swan , Correspondent
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