A U.S. default on the national debt would be a “catastrophic blow” to the country’s economic recovery from COVID-19 that could lead to recession territory, Moody’s Analytics said in a new report as other analysts issued similarly dire predictions.
The firm said in a report (pdf) on Sept. 21 that if the United States were to default and a congressional deadlock lingers, nearly 6 million American jobs could be wiped out.
