With the debt limit debate raging in Washington, D.C., some experts are projecting significant impacts on regional economies if no deal is reached before the June 1 deadline, with more workers in California expected to lose their job than in any other state if the breach is prolonged, according to a recently released report from Moody’s Analytics.
“The timing could not be worse for the economy; even without the specter of a debt limit breach many CEOs and economists believe a recession is dead ahead,” the authors wrote.
Based on a summary report released by the White House on May 3 detailing various debt ceiling scenarios, the Biden administration agrees with the dim assessment….