The conversation between human and AI assistant.
Why does the United States not default due to its massive debt? And if the United States were to default what would it look like?
That makes sense, but what would happen if the United States were to default on its debt?
If the U.S. were to default on its debt, it would have serious consequences for the global economy. Interest rates would spike, causing other countries to struggle with their own debt. The value of the U.S. dollar would also likely plummet, which would cause inflation and hurt consumers' purchasing power.