By now, most Americans have probably heard the worst-case scenarios with hitting the debt ceiling: a dipping dollar, loan difficulties, a jump in interest rates. So, how likely is a worst-case scenario?
Fresh off a government shutdown, Minnesota could face higher borrowing costs and potential cash flow problems if the federal government defaults on its debt.
Gov. Mark Dayton directed his budget chief Monday to assess how a possible U.S. debt default would affect Minnesota’s finances.
CBS Moneywatch Editor at large Jill Schlesinger talked with Dave Lee on the WCCO Morning News
When it comes to credit, we all have our limit. And the U.S. government has maxed out its $14.3 trillion debt ceiling. So what happens if the limit isn’t raised? What happens if the United States can’t pay its bills?