What debt default would mean for the nation's credit rating

1 big thing

Axios

News

4 • 2K Ratings

🗓️ 26 May 2023

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

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Summary

We are getting closer to June 1, the date Treasury Secretary Janet Yellen warns the U.S. will run out of money to pay its bills. And there’s still no clear resolution in sight. What does the risk of a default mean for the U.S. government’s credit rating...and reputation? Plus, how working mothers in the U.S. defied expectations. And, the not-so-sweet news about artificial sweeteners. Guests: Axios' Matt Phillips and Carly Mallenbaum. Credits: Axios Today is produced by Emily Peck, Alexandra Botti, Fonda Mwangi, Robin Linn and Alex Sugiura. Music is composed by Evan Viola. You can reach us at [email protected]. You can text questions, comments and story ideas to Niala as a text or voice memo to 202-918-4893. Go Deeper: What the credit rating agencies are saying about the U.S. Sorry, stevia: Artificial sweeteners get more bad PR Return of working moms defies pandemic expectations Soon, you can customize your ketchup Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Music
0:10.0	Lad Brooks Live, the new way to win thousands of free tickets to electrifying live events.
0:19.0	Sign up at ladbrookslive.co.uk
0:22.0	18-plus UK Max-1 account per individual
0:25.0	Enter free draws to win event tickets from designated list
0:28.0	to win per week restrictions and TNC's apply.
0:34.0	Good morning. Welcome to Axios today. It's Friday, May 26th.
0:38.0	I'm Emily Peck, in for Nailaboodoo.
0:40.0	Here's what you need to know today.
0:42.0	How working mothers in the US defied pandemic expectations.
0:46.0	Plus, the not-so-sweet news about artificial sweeteners.
0:50.0	But first, if the US defaults on its debts,
0:53.0	what happens to its reputation?
0:55.0	That's today's one big thing.
1:01.0	You may be tired of hearing about it,
1:03.0	but we are edging ever closer to June 1st.
1:06.0	That's the so-called X-Date.
1:08.0	When Treasury Secretary Janet Yellen warns that the US
1:11.0	will run out of money to pay its bills.
1:13.0	And there's still no clear resolution in sight.
1:16.0	Yet, as my Axios markets co-author Matt Phillips has been reporting,
1:20.0	markets still don't seem that worried.
	...

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