“The US government hit its $31.4 trillion debt ceiling — triggering fears of a nasty fallout for Americans. Here are the 3 harmful ways it could impact you”

“The U.S. officially hit its $31.4 trillion debt ceiling on Jan. 19 — launching a ticking time bomb toward a potentially “calamitous” debt default. Unable to break the political deadlock in Congress, the Treasury will now take “extraordinary measures” to ensure the government can pay its bills.

The Council of Economic Advisers (CEA) – an agency that advises the President on economic policy – has painted a grim picture of life after debt default. Every single American could feel the impact.

“Payments from the federal government that families rely on to make ends meet would be endangered,” the CEA explains. “The basic functions of the Federal government—including maintaining national defense, national parks, and countless others—would be at risk…

It means that the government could delay various paychecks that help millions of Americans, such as Social Security payments, Medicare and Medicaid, and benefits to veterans...”

https://finance.yahoo.com/news/us-government-just-hit-31-190000536.html

You know what’s worse than default? Collapse of the U.S. dollar. This country can not print money forever. The Debt ceiling is a good thing not bad. The time is long due for the government to cut spending. Don’t let scare tactics fool you. We can fix the problem now much easier than kicking the can down the road and fixing the problem later.