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Economy
The United States Department of the Treasury building is seen in Washington D.C., United States on April 12, 2023.
The United States Department of the Treasury building is seen in Washington D.C., United States on April 12, 2023.

Celal Gunes / Anadolu Agency

  • The US once suffered a "mini-default" in 1979, thanks in part to glitchy word-processing equipment.
  • The incident caused Treasury yields to spike up by 60 basis points or 0.6 percent and cost billions long-term.
  • The US is now flirting with a full default as Republicans in Congress demand spending cuts in exchange for paying America's debt.

There's a looming possibility that the United States could soon default on its debt, but it actually wouldn't be the first time the US didn't pay its bills on time. 

Tags
economy, Speed desk, Debt Ceiling, Treasury, Debt, Default
Source
The US once had a 'mini-default' on some of its debts because of a technical gl…