What if Congress does not raise the debt ceiling? - USA Today

The U.S. is reaching the national debt limit on Thursday, January 19, 2023. Unless Congress increases the debt limit, the United States will have to pay its bills late and could default on its debt which has never happened. According to Treasury Secretary Janet Yellen, “it could be the final blow that puts the fragile economy in a recession.” What are the financial implications for the average person? Elisabeth Buchwald outlines five ways this will impact your finances if the debt ceiling is not raised by the deadline. Read Ms. Buchwald’s article here…

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