The Mudcat Café TM
Thread #170407 Message #4121803
Posted By: Donuel
04-Oct-21 - 09:20 AM
Thread Name: BS: Threat of the week
Subject: RE: BS: Threat of the week
15 million seniors could stop receiving Social Security payments, or see delays. 30 million families could stop receiving President Joe Biden's expanded Child Tax Credit payments, or see delays. U.S. military servicemembers could stop receiving paychecks. Veterans' benefits could stop or be delayed. Postal workers and federal employees could stop receiving paychecks. The United States' credit worthiness could be downgraded, spiking interest rates, which would raise mortgage, car and credit card payments. Doubt in the typically reliable U.S. currency could tank the markets, hurting 401ks and other investments. (The S&P 500 lost 17% in the months surrounding the last debt ceiling standoff.) FEMA funding for hurricane and wildfire victims could stop. Public health funding for pandemic mitigation efforts could be cut off. Child nutrition program and other food assistance could stop. Every job that supports all those departments and programs wuold be gone.
But we still have two weeks of paychecks for sure.