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Author Topic: What happens now the US has hit the debt ceiling? Published  (Read 723 times)

Offline Nowayhaha

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What happens now the US has hit the debt ceiling? Published
« on: January 19, 2023, 08:54:34 PM »

https://www.bbc.com/news/business-64322574

Offline Georgesoros

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Re: What happens now the US has hit the debt ceiling? Published
« Reply #1 on: January 20, 2023, 03:57:57 AM »
think this way.
Congress borrowed money - (from retirees, employees, etc). Used the money. when it is due with interest, congress renege on it. all these people are gonna be angry because money was taken out and now congress is reneging to pay. plus there are lots of businesses that depend on retirees - medicare, medicaid etc. these businesses may have to close creating chaos in employment. military will not be fully funded, and contractors will stop work. It'll be chaos.

Offline Georgesoros

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Re: What happens now the US has hit the debt ceiling? Published
« Reply #2 on: January 20, 2023, 04:00:29 AM »
It has nothing to do with spending and MAGA put it, rather money that was borrowed and now is due. Trump gave $2trillion tax cuts further worsening the situation. MAGA never cut spending to offset the cuts.
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