Debit Limit Ceiling Crisis Could Hit Your 401(k), Social Security and Medicare

America’s debt ceiling was reached – again – on January 19, 2023 as the country exceeded its $31.4 trillion spending cap. The cap was raised to that amount in December 2021. As much terms like “ceiling” and “cap” are used in this discussion, the truth is this limitation is more of a temporary hindrance than … Read more

Gold and silver boom predicted as US hits debt ceiling, dollar devalues

Ongoing inflationary pressures and increasing risk the on its loans will likely see Wall Street traders rush to precious metals in 2023. The U.S. hit its $31.4 trillion debt ceiling on Thursday, after the latest showed consumer prices still 6.5% higher on an annual basis. Meanwhile, gold and silver jumped roughly 15% and 21%, respectively, … Read more

‘The world’s largest Ponzi scheme’: Peter Schiff just blasted the US debt ceiling drama. Here are 3 assets he trusts ami

A ticking time bomb in the U.S. economy is running perilously close to detonation. Long considered a harbinger of bad luck, Friday, Jan. 13 came with a warning for Congress that the country could default on its debt as soon as June. With the U.S. reaching its debt limit of $31.4 trillion on Jan. 19, … Read more

The U.S. officially hit the debt ceiling. Here are 3 money moves you should be making now to protect your wallet

On Thursday, the U.S. government officially hit the $31.4 trillion debt ceiling. Translation: The government is cut off and no longer able to pay its bills without taking extraordinary measures. “The United States runs a budget deficit, which means it doesn’t generate enough money from taxes and other revenue sources to fully fund its operations. … Read more

Jamie Dimon warns Beltway hardliners not to play chicken when it comes to America’s $31 trillion debt ceiling

Jamie Dimon is worried—not so much about where interest rates are heading or even the economic outlook, but rather Washington’s impending standoff over the debt ceiling. The head of the world’s most valuable lender, J.P. Morgan Chase, fears Beltway hardliners in Congress may risk a Defcon 1-style crisis in financial markets by bringing the country … Read more

The US government just hit its $31.4 trillion debt ceiling — triggering fears of a nasty fallout for Americans. Here are

The U.S. officially hit its $31.4 trillion debt ceiling on Thursday – 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. Don’t miss ‘Hold onto your money’: Jeff Bezos says … Read more

Roubini: U.S. debt ceiling fight is a potential ‘financial catastrophe’

Expect financial market and economic chaos to ensue if U.S. lawmakers don’t find a resolution on the debt ceiling this time around. “If there was even a temporary default on the U.S. debt, it would really be a financial catastrophe,” NYU professor and economist told at the (video above). “So if you default on the … Read more

US debt ceiling forces Treasury into ‘extraordinary measures’

The federal government officially reached its $31.38 trillion debt limit on Thursday, prompting the Treasury Department to begin using its “extraordinary measures” to avoid defaulting on the national debt for the next few months. Treasury Secretary Janet Yellen announced in a letter to Congress last week that the U.S. would reach the debt limit on … Read more

What to know about the $31T U.S. debt ceiling as default deadline looms

The ceiling on the amount of debt the federal government can issue to fulfill financial obligations is fast approaching, but the Republican-controlled House has signaled that it’s prepared for another round of financial brinkmanship, with Speaker Kevin McCarthy endorsing a push by ultraconservatives to demand spending reductions as part of any extension of the federal … Read more

5 ways your finances could be impacted if the debt ceiling isn’t raised by the deadline

It’s coming down to the wire for Congress to reach a deal on the national debt ceiling before the U.S. government runs out of money to pay its bills. that they have until Thursday to resolve the debt limit. Otherwise, the Treasury will have to pay its bills late and the United States could default on its debt … Read more