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Because when it comes to your business, it's not just about keeping the lights on.

It's about keeping

everything secure. Defaulting on debt is not the only way to scare investors from marketplace.

I'm Sabree Beneshaw in for David Brancaccio. As the tax and spending bill continues to wind

its way through Congress, questions about the U.S. debt

have not gone away. Over the weekend, Treasury Secretary Scott Bessent said the U.S.

would never default on its debt. But the U.S. doesn't have to actually default in order to lose

the confidence of investors, who would, by the way, in turn, charge the U.S. more to borrow.

Julia Cornado is founder of macro policy perspectives and a professor at the University of Texas,

Austin.

It's true that the U.S. can always pay the Treasury debt that it owes. It has a printing press.

It can create money. The question really is around what will the value of those dollars be when you get

them back. There's really no fiscal discipline, no end in sight to large and rising deficits that the

U.S. is running. And there's also a lot of sort of breakdown in rule of law and transparency and just the rising risk of the U.S. as a

counterparty. So they're doing things like threatening to tax treasury interest, which is a form of

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