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Daily Mirror
Daily Mirror
World
Liam Buckler

US debt default threatens global chaos making 2008 recession 'look like tea party'

A huge dispute over the United States' $31.4 trillion debt default could unleash chaos on the world and make the global financial crash of 2008 "look like a tea party".

Rival politicians in the US are working against the clock to strike a deal to borrow more money - or as they call it, to raise the US debt ceiling - before the ominously dubbed 'X-date' of June 1, which is when the government's debt is due to default.

The US has raised the debt limit multiple times in the last decade and if it defaults on its debt, there could be huge ramifications for millions of people across the world and economic hardship.

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