The federal government could default on its debt as soon as July, a new forecast from the Bipartisan Policy Center warns, raising pressure on Congress for action.
The prominent think tank forecast Monday that the so-called “X-Date” would likely arrive between mid-July and early October.
It’s very unlikely to happen. Republicans don’t want it to happen while Trump is in office. Democrats don’t want it to happen at all; this isn’t like a government shutdown - it would be a catastrophe. The only question is what riders will slip in.
I’m afraid there are American oligarchs who do want it. They could end up owning everything. They don’t care how much people suffer if it consolidates wealth and power for a few.