{"id":1927688,"date":"2023-05-09T22:40:32","date_gmt":"2023-05-10T02:40:32","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/business-leaders-nervous-ahead-of-debt-ceiling-talk\/"},"modified":"2023-05-09T22:42:37","modified_gmt":"2023-05-10T02:42:37","slug":"business-leaders-nervous-ahead-of-debt-ceiling-talk","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/business-leaders-nervous-ahead-of-debt-ceiling-talk\/","title":{"rendered":"Business leaders anxious about upcoming debt-ceiling discussions."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">14<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbusiness-leaders-nervous-ahead-of-debt-ceiling-talk%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1927688&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Business Leaders Warn Against Defaulting on U.S. Debt<\/h2>\n<h3>High-Stakes Meeting Between President Biden and Congressional Leaders<\/h3>\n<p>As the U.S. faces the possibility of defaulting on its obligations as soon as June 1, U.S. business executives are urging both parties to reach an agreement. The Business Roundtable, an organization of chief executives of major U.S. corporations that advocate for <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/republicans-slam-democrat-rep-haley-stevens-for-saying-economy-is-flourishing\/\" title=\"Republicans Slam Democrat Rep. Haley Stevens for Saying Economy is 'Flourishing'\">pro-business policies<\/a>, issued a stern warning, stating that the cost of a default or even the possibility of one is too high.<\/p>\n<h3>The Consequences of Defaulting on U.S. Debt<\/h3>\n<p>A default would deliver a severe blow to the economy, leading to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/white-house-warning-agencies-of-potential-government-shutdown-psaki\/\" title=\"White House Warning Agencies of Potential Government Shutdown: Psaki\">widespread job losses<\/a>, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/business-leaders-nervous-ahead-of-debt-ceiling-talk\/\" title=\"Business leaders anxious about upcoming debt-ceiling discussions.\">decimated retirement savings<\/a>, and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/this-economic-week-ahead\/\" title=\"This Economic Week Ahead\">higher borrowing costs<\/a> for families, businesses, and the government. Failing to raise the debt limit would also threaten the U.S. dollar\u2019s central role in the global financial system to the benefit of China.<\/p>\n<h3>Urging for Substantive Negotiations<\/h3>\n<p>The Business Roundtable urged both the White House and congressional leaders to commit to substantive negotiations on an agreement that can pass the House and Senate. The group supports one in four American jobs and almost a quarter of the country\u2019s gross domestic product, according to its website.<\/p>\n<h3>The Cost of Default is Too High<\/h3>\n<p>\u201cThe cost of a default, or even the threat of a default, is simply too high,\u201d said Business Roundtable CEO Joshua Bolten. The U.S. Chamber of Commerce issued a similar warning last week, noting that default on the federal government\u2019s debt \u201cwould be catastrophic for the U.S. economy.\u201d<\/p>\n<h3>The Importance of Paying Bills<\/h3>\n<p>\u201cThe U.S. economy and global financial system are all underpinned by the idea that the U.S. government\u2014unlike others around the world\u2014always pays its bills. Investments in U.S. debt are considered \u2018risk-free,\u2019 which means the federal government pays less to borrow money,\u201d the group stated.<\/p>\n<p>Defaulting would mean that the U.S. government no longer always pays its bills. Treasurys would no longer be risk-free. Interest rates for the government and everyone else would rise, leading to a catastrophic impact on the U.S. economy. It is crucial for both parties to reach an agreement to avoid such a scenario.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ahead of today\u2019s high-stakes meeting between President Joe Biden and congressional leaders to discuss raising the debt ceiling, U.S. business executives have issued a stern warning, urging both parties to reach an agreement. The cost of a default or even the possibility of one is too high, the group warned. \u201cWith the U.S. at risk<\/p>\n","protected":false},"author":531,"featured_media":1927689,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[17896,4284,22936,22885,5061,6532],"class_list":["post-1927688","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times","tag-anxious","tag-business","tag-debt-ceiling","tag-discussions","tag-leaders","tag-upcoming"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1927688","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/531"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1927688"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1927688\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1927689"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1927688"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1927688"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1927688"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}