The Impact of the Debt Ceiling on Americans' Finances.

President Biden is expected to meet with congressional leaders on Tuesday about the debt ceiling, with just about two weeks until the country could run out of money to pay its bills. Economists and administration officials have warned that a potential default on the national debt would amount to financial disaster, wreaking havoc on the domestic economy and rattling global markets, too. The economic effects would ripple outward from there, and people could see higher rates for things like mortgages and credit card interest. Retirement savings are about the long-term, and a temporary disruption is not likely to have a long-term effect on those savings.