Tag: debt ceiling
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The White House alerted that if the US fails, shares will drop 45% and severe downturn will start in the third quarter
The White House’s Council of Economic Advisers issued a warning earlier this month that a US debt default might cause a stock market decline of 45% and lead to a severe recession similar to the Great Financial Crisis of 2008. Earlier in June, when Treasury Secretary Janet Yellen used all of the department’s exceptional initiatives, the…
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Social Security Benefits Are Slowly Getting Destroyed by Inflation, and a Debt Ceiling Crisis May Do More Harm
Social Security recipients have been battling inflation for over twenty years now, usually in failure. The problem might worsen if the present debt ceiling crisis isn’t handled, and it’s unlikely to improve till politicians modify how annual cost-of-living adjustments (COLAs) are determined. The nation’s oldest individuals who resigned around 2000 have reduced 36% of their…
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Depending on how the debt ceiling is resolved, Social Security payouts might end in July
There are growing concerns that Social Security pensioners may no longer receive their benefits if US politicians fail to reach a deal on the debt ceiling by the deadline to prevent a collapse. Many analysts believe that payments may cease as early as July. Earlier in the month, Treasury Secretary Janet Yellen warned Congress that…