Debt default would cripple US economy, analysis warns https://ift.tt/8EFlNhA damage could spiral to 7 million jobs lost and a 2008-style financial crisis in the event of a prolonged breach of the debt limit, in which House Republicans refuse for months to join Democrats in voting to raise the cap, Zandi and colleagues Cristian deRitis and Bernard Yaros wrote in an analysis prepared for the Senate Banking Committee's Subcommittee on Economic Policy.
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