What Would Happen If the U.S. Defaults for the First Time in History?

President Joe Biden enlisted financial and corporate leaders to help him pressure Republicans to stop blocking efforts to suspend the U.S. debt ceiling, warning that the government faces a first-ever default that would tank the economy.

Biden hosted a mostly virtual meeting at the White House with several chief executive officers, whom he asked to explain how a default would impact their businesses, customers and the broader economy.

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