I awoke at night, mulling the debt ceiling crisis over which I have no immediate control—manufactured by a Republican band of insurrectionists who have put Congress at the throttle of default or no default.
It is Congress' job to raise the debt ceiling so the government can pay our bills.
Trump and Company increased the debt to historically high levels while reducing taxes on wealthy persons and corporations. They created a problem that they wanted to avoid paying for.
What will happen to us?
- Our Social Security checks will stop on June 2.
- We will have to use savings to pay our mortgage.
- Our portfolio will be devalued considerably.
- Our overall financial stability will be shaken.
It will be even worse for many Americans as they cannot weather the storm. Our troops won't get paid. Our government will shut down. Our national security will be at significant risk.
Republicans will likely be elected out of office in the 2024 election cycle. Yet, that leaves a void in which radical unAmerican right-wing authoritarians hold the nation, hostage. What will be done about that?
Beyond the Deadline: How the Debt Ceiling Crisis Threatens the Economy
https://www.fxempire.com/news/article/past-debt-ceiling-standoffs-provides-insights-into-potential-economic-fallout-1347998
