Fears of a US debt default are mounting as the deadline to lift the borrowing limit looms. Here's what Elon Musk, Paul Krugman and Jamie Dimon have warned.

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Congressional leaders meet on debt ceiling
US President Joe Biden meets with US Speaker of the House Kevin McCarthy, House Minority Leader Hakeem Jeffries, Senate Majority Leader Chuck Schumer and Senate Minority Leader Mitch McConnell in the Oval Office of the White House in Washington, DC, on May 9, 2023. Biden and Republican leaders met in hopes of breaking an impasse over the US debt limit.

Jamie Dimon warns a US default would be 'potentially catastrophic' as lawmakers remain deadlocked over raising the debt ceiling

Tech Insider : Economy
Jamie Dimon
JPMorgan Chase CEO Jamie Dimon.

REUTERS/Brian Snyder

Stocks are set for more volatility as the 'unlucky 13' months of strong job growth complicates the Fed's mission to cool the economy

Tech Insider : Economy
now hiring sign with person in front of it

John Smith/VIEWpress/Getty Images

The US is heading toward a catastrophic — and avoidable — default. Here's what the debt ceiling is, and why it's so dangerous.

Tech Insider : Economy, Politics
Kevin McCarthy
House Speaker Kevin McCarthy speaks to reporters outside of his office in the US Capitol Building on March 7, 2023 in Washington, DC.

Anna Moneymaker/Getty Images

The cost of insuring against a US default hits an all-time high as debt ceiling deadline looms

Tech Insider : Economy
joe biden
US President Joe Biden.

Saul Loeb/AFP via Getty Images

A recession is more likely under the Republican debt-ceiling plan, Moody's chief economist warns

Tech Insider : Economy
Kevin McCarthy
House Speaker Kevin McCarthy

AP Photo/Alex Brandon, File

Here's why bonds may actually rally if the US runs out of cash to pay its debts, according to UBS

Tech Insider
pelosi, schumer, mcconnell, mccarthy
House Representative Nancy Pelosi, Senate Majority Leader Chuck Schumer, Senate Minority Leader Mitch McConnell, and House Majority Leader Kevin McCarthy in February 2021.

AP Photo/Susan Walsh

A $1 trillion platinum coin could save the US from economic catastrophe in less than a month. It would be fast, legal, and no bigger than a regular coin.

Tech Insider : Economy, Politics
U.S. Secretary of the Treasury Janet Yellen (L) and Second Gentleman Douglas Emhoff inspect a series of dies used in the production of the new American Women Quarters Program which includes the Maya Angelou quarter dollar coin, during a tour of the Denver Mint on March 11, 2022 in Denver, Colorado.
U.S.

Kevin McCarthy's bill to raise the debt ceiling squeezes by in the House after a series of contentious last-minute changes to secure enough GOP votes

Tech Insider : Economy, Politics
Kevin McCarthy
House Speaker Kevin McCarthy of California is pictured at the Capitol on January 7, 2023.

AP Photo/Jose Luis Magana

George Santos, who lied about his own employment history, wants to make the GOP's new work requirements even tougher

Tech Insider : Politics
Rep. George Santos in the green room before his interview with Piers Morgan in New York on February 20, 2023.
The scandal-plagued New York congressman has threatened to vote against the GOP’s new budget bill.

Jonathan Ernst/Reuters

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