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If the US defaults on debt, expect the dollar to fall – and with it, Americans' standard of living

By Michael Humphries, Deputy Chair of Business Administration, Touro College

Congress has seemingly kicked the debt ceiling deadline down the road – but the threat of a future default still exists.

On Oct. 7, 2021, lawmakers in the Senate agreed to extend the government’s ability to borrow until December. It came after Senate Minority Leader Mitch McConnell offered…

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