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  2. What Happens If the U.S. Defaults on Its Debt? - AOL

    www.aol.com/finance/happens-u-defaults-debt...

    The debt ceiling is a limit that Congress imposes on how much debt the federal government can carry at any given time. When the ceiling is reached, the U.S. Treasury Department cannot issue any ...

  3. State defaults in the United States - Wikipedia

    en.wikipedia.org/wiki/State_defaults_in_the...

    State defaults in the United States are instances of states within the United States defaulting on their debt. The last instance of such a default took place during the Great Depression , in 1933, when the state of Arkansas defaulted on its highway bonds, which had long-lasting consequences for the state. [ 1 ]

  4. What Happens If the U.S. Defaults on Its Debt? - AOL

    www.aol.com/news/2013-10-09-what-happens-if-the...

    Day nine of the government shutdown. Still no end in sight. For 800,000 or so furloughed federal employees, this is tough. For most Americans, it's a mere annoyance. But that could change in the ...

  5. 'Extraordinary measures': Treasury Sec. Yellen warns US could ...

    www.aol.com/news/extraordinary-measures-treasury...

    What happens if the government defaults on the debt? A default would occur if the U.S. failed to pay bondholders who have lent money to the government. The United States has never defaulted on its ...

  6. Sovereign default - Wikipedia

    en.wikipedia.org/wiki/Sovereign_default

    A sovereign default is the failure or refusal of the government of a sovereign state to pay back its debt in full when due. Cessation of due payments (or receivables) may either be accompanied by that government's formal declaration that it will not pay (or only partially pay) its debts (repudiation), or it may be unannounced.

  7. The Debt Ceiling Question: What It Means For You - AOL

    www.aol.com/heres-debt-ceiling-could-mean...

    As seems to happen every couple of years at this point, Capital Hill is abuzz with discussions of whether the U.S. will default on its debt. In fact, if the debt ceiling isn't raised this summer ...

  8. Default (finance) - Wikipedia

    en.wikipedia.org/wiki/Default_(finance)

    With most debt (including corporate debt, mortgages and bank loans) a covenant is included in the debt contract which states that the total amount owed becomes immediately payable on the first instance of a default of payment. Generally, if the debtor defaults on any debt to the lender, a cross default covenant in the debt contract states that ...

  9. Debt Ceiling 2023: If the US Defaults, What Happens to Your ...

    www.aol.com/finance/debt-ceiling-2023-us...

    The U.S. could fail to pay all of its debt as early as June 1, which would send shockwaves through the economy and financial markets. But what would happen to ordinary Americans? See: Why Stealth...