Tens of millions of less fortunate will be left to deal with the consequences as best they can, IMO.
If no budget deal is struck by Jan 1, the big trillion dollar annual deficit will be sliced down to something like a 100 billion by raising taxes and cutting budgets—which is totally manageable.
If a budget deal is struck by Jan 1, the big trillion dollar annual deficit will be sliced down to something like a 100 billion by raising taxes and cutting budgets—which is totally manageable.
Either way the big US budget deficit goes way down.
Ain’t no financial apocalypse coming to the USA.
Then there’s the 50-100 trillion dollars worth of oil and gas that have suddenly and miraculously appeared on US balance sheets. There are no oil independent countries with weak currencies.
All that said, I don’t know what’s coming to other countries.