If US defaults on its debt, Treasury would have to decide how to pay the bills.How the 14th Amendment factors into the debt ceiling debate.Five ways a debt default could affect you.During the 2011 fight over the debt ceiling, S&P removed its perfect credit rating from the United States. Wall Street is even starting to wake up to the debt ceiling dangers ahead, with the stock market finally buckling a bit following days of calm.Įven if a default is avoided, there is a risk that America’s ability to borrow cheaply – a key strength of the US economy – will be diminished if Moody’s or another credit ratings firm downgrades the country’s credit rating. Cash levels at the US Treasury are dwindling and the accounting gimmicks officials are using to avoid default won’t last much longer.
House Republicans and the White House are, so far, struggling to find a compromise on how to raise the debt ceiling. The coming days and weeks could test that confidence.
“If we were less confident, we would change our outlook to negative,” Foster said. Just eight days remain before the government could run out of cash (the so-called X-date), but Foster said Moody’s is “confident” the federal government will not suffer a first-ever default. “If we did, we would obviously have to change our view on the rating.” “We absolutely don’t think there will be a scenario where we cross the X-date and interest payments will be missed,” William Foster, senior vice president and senior credit officer at Moody’s Investors Service, told CNN. The season-opening contest against the Nittany Lions will kick off at 7:30 p.m., and will be televised nationally on NBC.Even though time is running out to get a debt ceiling deal through Congress, one of the key players that will decide the fate of America’s credit rating is convinced disaster will be averted. West Virginia will be visiting Beaver Stadium to take on Penn State, this fall, for the first time since Oct. He also was named a Freshman All-American during the COVID season in 2020.įrazier has started 34-of-35 games and has been awarded Offensive Lineman of the Game by the WVU coaching staff seven times heading into his junior year.įrazier and Kansas State offensive lineman Cooper Beebe are the only two Big 12 players listed on Athlon's first offensive, defensive and special teams squads.
Frazier was named to the Walter Camp and the American Football Coaches Association (AFCA) All-America second teams in 2021. He had 11 games without missing an assignment and had dominant performances in Mountaineer victories against Towson, Virginia Tech and Baylor. He earned All-Big 12 First Team honors by the conference coaches and second team by the league AP sportswriters. The Fairmont native started all 12 games last year at center and allowed only one sack while producing 51 knockdown blocks and making what the coaching staff considered 38 great blocks. In March, he was named to the Walter Camp Football Foundation's Preseason All-America Second Team. – West Virginia University junior center Zach Frazier has been named to the 2023 Athlon Sports Preseason All-America First Team, released earlier today.
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