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The Conversation
The Conversation
Politics
Michael Humphries, Deputy Chair of Business Administration, Touro University

US debt default could trigger dollar’s collapse – and severely erode America’s political and economic might

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A U.S. debt default would mangle the dollar's international reputation. photovideostock/Getty Images

It’s a case of déjà vu all over again on the debt ceiling debate.

Republicans, who regained control of the House of Representatives in November 2022, are threatening to not allow an increase in the debt limit unless they get unspecified spending cuts in return. In so doing, they risk pushing the U.S. government into default.

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