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304 What a debt default could mean for America’s superpower status

Vox
Jen Kirby @ Vox · 05/19/2023 07:30 EDT

What a debt default could mean for America’s superpower status

US Treasury Secretary Janet Yellen listens during an open session of a Financial Stability Oversight Council meeting at the Department of the Treasury on April 21, 2023, in Washington, DC.  | Alex Wong/Getty ImagesThe showdown will cause a global crisis — and that has real implications for US influence. In case you haven’t heard, the United States is in the middle of a perilous debt-ceiling showdown. Congress needs to expand the amount of money the US can legally borrow, but Republicans and the Biden White.

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