With the debt limit breach just a few short days way, Smart Contractors are sure to be asking “What is going to happen to my contract and my business if Congress doesn’t reach an agreement and the administration can’t raise the debt ceiling?”
Since the U.S. government has never defaulted on a debt before, it is difficult to say with any certainty what will transpire. It’s not even clear that failure to raise the debt ceiling will result in a default, but there are some key points you should understand about operating when the government cannot borrow money:
