For other countries that scramble to find resources to repay their debts, it is inconceivable that the United States, which borrows in its own currency at low rates from investors around the world—vo…

What is the rationale behind President Biden's recent student debt relief announcement, who benefits and pays for it, and finally, what might be some unintended consequences from it?

A U.S. default would send a shock through the global economy and risk the credibility of the U.S. dollar.  It would also alarm U.S. allies while presenting a gift to its adversaries.