In this segment of The Motley Fool's financials-focused show, Where the Money Is, banking analyst David Hanson is joined by Motley Fool One analyst Morgan Housel to discuss the importance of U.S. Treasuries to the entire financial system. Morgan thinks there is a high likelihood a default could trigger a panic, while David isn't quite as convinced.
Don't have time to watch the full video? You can listen to the audio version on the go! Where the Money Is can be found on iTunes. Click here!
Even more about the government debt
The U.S. government has piled on more than $10 trillion of new debt since 2000. Annual deficits topped $1 trillion after the financial crisis. Millions of Americans have asked: What the heck is going on?
The Motley Fool's new free report, "Everything You Need to Know About the National Debt," walks you through with step-by-step explanations about how the government spends your money, where it gets tax revenue from, the future of spending, and what a $16 trillion debt means for our future. Click here to read the full report!