Is Defaulting on Debt Catastrophic?

Heritage Foundation economist EJ Antoni appeared on a recent episode of CURE America with Star Parker to discuss the debit limit.

Jonathan Alexandre of Liberty Counsel, who guest hosted for Star, asked Antoni in the clip below to define default in the context of government spending. Has the U.S. missed debt payments?

What exactly happens if the U.S. defaults on its debt?

To make sense of all that we’re hearing in the news on the debt limit, @RealEJAntoni from @Heritage joins the show, as we take a look at the past, present, and future of our nation’s path in fiscal irresponsibility. pic.twitter.com/88g3Gp47yS

— CURE (@CUREpolicy) January 24, 2023

Watch the full episode of CURE America here.