The federal government could default on its debt as soon as July, a new forecast from the Bipartisan Policy Center warns, raising pressure on Congress for action.
The prominent think tank forecast Monday that the so-called “X-Date” would likely arrive between mid-July and early October.
There are so many dollars stored away by countries all over the world primarily because it is a currency accepted nearly everywhere, especially for oil. If this domino falls, the currency will tumble. There are calculations that this would bring the us dollar down to 10 to 15 Euro-cent.