Impending Debt Default Threatens US Economy and Citizens.
TL;DR Summary
A US debt default could have significant impacts on households, including a decline in living standards, higher interest rates, and a potential recession. Financial markets could also be affected, leading to a decrease in retirement savings and investments. It is important for lawmakers to come to a resolution to avoid these potential consequences.
- 5 ways a debt default could affect you CNN
- US could hit debt limit by June 1, Janet Yellen warns TODAY
- Debt ceiling: Job losses, cuts to retirement savings likely, but preventable Business Insider
- Millions of Americans could suffer if debt showdown isn't solved in next 30 days CNN
- Threat of GOP-imposed default reaches new level as deadline nears MSNBC
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