Blackstone's Schwarzman Doesn't Foresee a US Default

The transcript discusses the potential for a US default due to a political standoff between parties over spending levels. It highlights negotiation challenges, including work requirements for supplementary payments, and compares the situation to the 2011 fiscal cliff. The speaker believes a default is unlikely and that any miscalculation would pressure a quick resolution. The world is watching, and while the situation is tense, a resolution is expected soon.

What potential impact does the speaker foresee if there is a miscalculation in the negotiations?

What is the speaker's overall outlook on the resolution of the political standoff?