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How would a U.S. debt default play out in Texas?

by Elizabeth Trovall

May 18, 2023

Half a million jobs could be lost in the second-biggest state economy. Pensioners, the food insecure and many others could suffer.

Treasury chief Janet Yellen has warned that the federal government could run out of money by June 1. Moody’s estimates that in a default, the giant Texas economy could lose more than half a million jobs.

Alex Wong/Getty Images

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