What happens when U.S. defaults? ‘Financial Armageddon’ explained

US Default Will Lead To 8+ Million US Job Losses, Clearinghouse Collapse & Shockwave Of Catastrophic Treasury Margin Calls. And worse.

What happens if the U.S. defaults on its debt? ‘Financial Armageddon’ explained

Lawmakers on Capitol Hill are no strangers to 11th-hour negotiations, but the stakes are much higher this time. Here’s why.

BY CLINT RAINEY

With less than a month before the United States government runs out of money, President Joe Biden and House Speaker Kevin McCarthy were f…