President Joe Biden doesn’t have a lot of time left to stop America from defaulting on its debts for the first time in history, a move that could trigger financial chaos for American households.
At the same time, negotiations are ongoing between the White House and Congressional Republicans as they deliberate raising the U.S. government’s $31.4 trillion debt ceiling.
If you’re worried about the future, invest wisely to protect your finances from debt default .
Analysts previously warned that a default could result in mortgage payments skyrocketing and the loss of seven million jobs. It could also result in investments plummeting.Ratings agency Fitch cautioned that a default could put America’s “AAA” credit rating on a negative watch.Finance experts are also encouraging American households to prepare for a worst-case scenario. Bloomberg Economics Director David Wilcox said the more time passes, “the more realistic the possibility becomes that we […]
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