Gold Coast Money Online
Advertisement
  • Home
  • Gold
  • Cryptocurrency
  • Make Money Online
  • Product Reviews
No Result
View All Result
Gold Coast Money Online
  • Home
  • Gold
  • Cryptocurrency
  • Make Money Online
  • Product Reviews
No Result
View All Result
Gold Coast Money Online
No Result
View All Result
Home Gold

What happens to America’s debt ceiling?

Alan Dykstra by Alan Dykstra
July 16, 2022
in Gold
0
586
SHARES
3.2k
VIEWS
Share on FacebookShare on Twitter
Buy gold & silver bullion - Goldbroker.com

If Congress doesn’t raise the debt ceiling, the US government won’t be able to pay its bills in October. The debt ceiling is the limit that Congress places on the amount Treasury can borrow.


You might also like

What are the differences between yellow and rose gold?

Junk Silver Coins are a good investment? We take a closer inspection

Don’t make this mistake when it comes to gold and silver in IRAs

The debt ceiling has been increased 78 times since 1960. The ceiling was also raised three times during Donald Trump’s presidency. In a budget agreement, in 2019, the Democrats also agreed to suspend the ceiling for a period of two years. The suspension was lifted in July and the Treasury has taken “extraordinary measures” to preserve cash since then. This includes suspending investments in certain federal retirement and disability funds.

Janet Yellen (the Treasury Secretary) has warned since that failure to raise the ceiling will lead to “economic disaster,” with soldiers and pensioners possibly going unpaid.

Long-term consequences of defaulting Treasury securities could prove more damaging, as the dollar is the global reserve currency. Much of the global financial system was built on the assumption Treasuries are safe. Standard & Poor’s stripped America of its AAA rating the last time it flirted with default.

Democrats will introduce a bill that would lift the debt ceiling, increase government funding until December, and provide relief for recent natural disasters. While the Senate Republicans have said they won’t approve an increase, Democrats are keen to test this resolve.

Democrats think Republicans will give in to pressure and avoid a government shutdown and default, and they believe they might be able pick up some votes from Republicans who represent states affected by hurricanes.

Republicans want Democrats vote on the bill by a party-line vote. This would paint Democrats as the party of reckless spending.

We can expect an increase in interest in silver and gold as we approach October.

America’s debt ceiling: What happens to it if Congress fails? CMI Gold & Silver.

Buy gold & silver bullion - Goldbroker.com

Share this:

  • Facebook
  • Pinterest
  • Twitter
Tags: inoctoberpayittheus
Previous Post

Merge is September 19th for Ethereum developers

Next Post

Top 8 Cardano Wallets To Store ADA Safely

Alan Dykstra

Alan Dykstra

Related Posts

Gold

What are the differences between yellow and rose gold?

by Alan Dykstra
August 7, 2022
Gold

Junk Silver Coins are a good investment? We take a closer inspection

by Alan Dykstra
July 20, 2022
Gold

Don’t make this mistake when it comes to gold and silver in IRAs

by Alan Dykstra
July 17, 2022
Gold

An Investor’s Guide to Different Types of Gold

by Alan Dykstra
July 15, 2022
Gold

The Ultimate Guide to Identifying if Gold Is Real.

by Alan Dykstra
July 14, 2022
Next Post

Top 8 Cardano Wallets To Store ADA Safely

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • 18-AUG-2022
  • 23 Legit Typing Jobs from Home in 2022
  • Research: Options market analysis suggests Ethereum Merge may be a “buy rumors, sell news” event
  • 10 Best Index Funds to invest in 2022
  • 16th-AUGUST-2022

Recommended

10 Money Saving Challenges for More Money in 2020

May 8, 2022

Craig Wright files legal action for Coinbase and Kraken’s’misrepresenting Bitcoin.

May 5, 2022

Gold Coast Money Online

Categories

  • Cryptocurrency
  • Gold
  • Make Money Online
  • Product Reviews
  • Products Launches

Pages

  • About Kirk Heisenberg
  • Contact
  • Disclosure
  • Privacy Policy
  • Terms of Use

Recent News

18-AUG-2022

August 18, 2022

23 Legit Typing Jobs from Home in 2022

August 18, 2022

© 2022 All Right Reserved by goldcoastmoneyonline.com

No Result
View All Result
  • Home
  • Gold
  • Cryptocurrency
  • Make Money Online
  • Product Reviews

© 2022 All Right Reserved by goldcoastmoneyonline.com