Americans lose $20K retirement savings if Congress doesn't raise debt ceiling: report

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Americans could lose $20,000 in retirement savings and private student-loan borrowers could see their payments surge if Republicans don't raise the debt ceiling, a new report says

A new congressional report delves into the catastrophe that would result should Congress fail to raise the debt ceiling.

"House Republicans' approach is dangerous and destabilizing," he continued."Even the threat of a breach will raise costs on everything from car loans to mortgages. Republicans are gambling with Americans' savings, benefits, and lives, all to play a political game." found that even if the country does avoid a default, Republicans' proposed spending cuts could trigger"a recession in 2024, costing the economy 2.6 million jobs at the worst of the downturn and pushing unemployment to a peak of near 6%."

 

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We have already lost over 20% of our retirement saving. let the students pay their loans.

FED GOV reach is unconstitutional The states have to run their own business

Really twisted yourself in knots to write this one! Hurt my back to read it. My favorite part is how you ignore the huge toll inflation/rate hikes continue to take so you can hope to pin it on Republicans.

no need to raise any ceiling, just let the US pension fund create tokens, and you will see how billions of dollars will flow into the fund.

Dem want to keep the money printing scam going. How many lies about ”transitory inflation”, vax, masks, elections, lockdowns can they tell before people stop believing them?

Democrats need to cut spending

Student loan borrowers are going to see their payments surge if I don’t pay for it for them?

Mmmmmmmm

how many Americans even have $2,000 in retirement savings, let alone $20k? Is that an average - of the 10% of Americans with over $400k in savings, the 40% with $2k in savings and the 50% with 0 in savings?

when have they not raised the debt ceiling

Doesnt sound like buildBackBetter to me…

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