"Debt Ceiling Crisis Looms: How to Safeguard Your Finances"
TL;DR Summary
The Biden administration has taken the "break glass measure" of minting a $1 trillion coin to avoid a potential default off the table as Congress continues to debate raising the debt ceiling. The US Treasury Department has warned that the government will run out of cash to pay its bills by October if the debt limit is not raised. Failure to do so could have catastrophic consequences for the US economy and global financial markets.
Topics:nation#biden-administration#congress#debt-limit-crisis#government-spending#politics#us-economy
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- Debt ceiling deal or not, Congress must not let US default (Editorial Board Opinion) syracuse.com
- From your 401(k) to bonds, here’s how to protect your financial well-being as debt default worries grow CNN
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