5/24/2023 0 Comments Suze orman the money book![]() ![]() ![]() ![]() This compresses the timeline to a much accelerated and limited one for negotiations, which have been at a stalemate for months. Future investments - including public investments - would become substantially more costly.”Īlso on May 1, the Congressional Budget Office (CBO) said that because tax receipts through April have been less than what it had anticipated in February, it too now estimates that the Treasury will run out of funds in early June. In the longer term, a default would raise the cost of borrowing into perpetuity. “On top of that,” she said, “it is unlikely that the federal government would be able to issue payments to millions of Americans, including our military families and seniors who rely on Social Security. As Yellen said in February, many could lose their jobs household payments on mortgages, auto loans and credit cards would rise and American businesses would see credit markets deteriorate. were to default on its debt, it would have dramatic economic and financial consequences for Americans. ![]()
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