The U.S. could soon default on its debt, an unprecedented scenario that government officials have variously described as 'unthinkable' and potentially 'catastrophic.' These are the states that would feel it most.
A default would mean the U.S. government fails to pay some of its obligations because the Congress failed to raise the debt ceiling to authorize borrowing more money to fund spending it already passed. Its impact would be felt by anyone expecting, whether a Social Security check, SNAP payment, a government bond payout or — in the case of federal employees — a paycheck.
Also vulnerable are regions that rely heavily on federal spending, including those with defense contractors."Professional services firms suffer, hurting white-collar support firms in and around the Beltway, particularly Northern Virginia," Moody's said."Aerospace is also hurt, impacting states including Connecticut, Kansas and Washington."
The top 20 counties with high numbers of federal employees represent a large swath of the nation, including states in the South, West and Midwest. There are 45 counties where at least 1 in 20 residents is a federal employee.
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