Washington's march toward a self-inflicted financial calamity is setting off alarm bells in capital cities around the world.
The law that caps federal borrowing must be raised asap. Here's what happens if it's not.
There's no precedent for a willful U.S. default on its legal obligations. So predicting the fallout is dicey. But many economists and budget experts expect it to be very damaging for the economy and markets.
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