Debtpocalypse Now: Here’s What Will Happen If US Defaults on Its Mountain of Debt

On Monday, Senate Republicans blocked legislation to raise the debt ceiling and allow the US to avoid an impending government shutdown and possible default. On Tuesday, the GOP also pooh-poohed a proposal by Democrats to allow for the debt ceiling to be raised with a simple majority vote, instead of the 60 vote supermajority ordinarily needed.