Default Likely to Negatively Impact Country’s Economy, Higher Ed

The United States is heading toward defaulting on its debt—a move that could lead to “economic calamity” unless Congress acts soon, experts and lobbyists warn. Negotiations to avert a default are ongoing. “We’ve experienced many federal government shutdowns; we’ve never experienced a default,” said Craig Lindwarm, vice president of governmental affairs at the Association of Public and Land-grant Universities. “So there’s a lot of unknowns. One would assume the federal government remains open but without sufficient revenues to meet its obligations.”