Nearly every columnist in America is writing about the possibility that the United States will default on our debt in the next couple of weeks. The issue is that important.

Moody’s Analytics, the multinational credit rating agency, tells us that a default would be “catastrophic” for our economy. It predicts a loss of six million jobs — trebling the unemployment rate. Moody’s expects a default will erase $15 trillion in household wealth. A worldwide recession could result.

Paul Hansen

Paul Hansen

Paul W. Hansen’s column appears twice per month. Columns are solely the opinion of their authors. Contact him by emailing

Recommended for you

(0) comments

Welcome to the discussion.

Please note: Online comments may also run in our print publications.
Keep it clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
Please turn off your CAPS LOCK.
No personal attacks. Discuss issues & opinions rather than denigrating someone with an opposing view.
No political attacks. Refrain from using negative slang when identifying political parties.
Be truthful. Don’t knowingly lie about anyone or anything.
Be proactive. Use the “Report” link on each comment to let us know of abusive posts.
Share with us. We’d love to hear eyewitness accounts or history behind an article.
Use your real name: Anonymous commenting is not allowed.
The News&Guide welcomes comments from our paid subscribers. Tell us what you think. Thanks for engaging in the conversation!

Thank you for reading!

Please log in, or sign up for a new account and purchase a subscription to read or post comments.