White House economists in a new report warn of “severe damage” to the U.S. economy in the event of a debt default. They also detail potential job losses and stunted economic growth if lawmakers engage in “brinkmanship” before ultimately reaching a deal.
FILE - President Joe Biden walks with House Speaker Kevin McCarthy, R-Calif., as he departs the Capitol following the annual St. Patrick's Day gathering, in Washington, Friday, March 17, 2023. Facing the risk of a government default as soon as June 1, President Joe Biden has invited the top four congressional leaders to a White House meeting for talks. FILE - President Joe Biden walks with House Speaker Kevin McCarthy, R-Calif., as he departs the Capitol following the annual St.
WASHINGTON — White House economists on Wednesday warned of “severe damage” to the U.S. economy in the event of a
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