Indian Economy and US DEBT DEFAULT CRISIS on US DEBT CEILING of 31.4 Trillion USD .
In the past 15 days, there have been far too many nerve-wracking moments on the global markets. What if the US fails to raise its debt ceiling and stops making debt payments? This is the worry. The US Treasury has been able to keep the country’s finances afloat ever since January 2023, when the maximum amount of USD31.4 trillion in debt that it could issue had been reached. S&P 500 index volatility, a sharp increase in credit default swaps (essentially insurance against all types of debt default), and a further sharpening of political polarization between Democrats and Republicans followed.
