If We Default....

As of right now there are only 7 days left until the United States defaults on its Loans.

Biden and the Republicans and the Democrats in Congress need to stop using us as shields for their political games and just raise the Debt Ceiling.

Even once the private negotiations are completed and if an agreement is made it then has to pass the House and the Senate before Biden has to sign it – all before Midnight on May 31, 2023 and that includes the Memorial Day Holiday.

If the US defaults this is what will happen:

Inside the United States:

All 67 Million Americans receiving Federal Social Security Benefits (48 Million Senior Citizens and 19 Million Disabled) won’t receive their monthly SSA Benefits starting June 1, 2023.

All 93 Million Americans receiving Medicaid Benefits won’t receive their monthly Benefits starting June 1, 2023.

All 5.2 Million American Veterans receiving Veteran Affairs Benefits won’t receive their monthly VA Benefits starting June 1, 2023.

All 42 Million Americans receiving Federal Food Stamps won’t receive their monthly Food Stamp Benefits starting June 1, 2023.

All 2.7 Million Americans getting Section 8 Housing Benefits won’t receive their monthly Housing Benefits starting June 1, 2023.

All 3.3 Million American Children getting Free School Lunch Benefits won’t receive lunches starting June 1, 2023.

All 120,000 American Disabled and Elderly getting Child and Adult Care Food Program (CACFP) won’t receive their food assistance starting June 1, 2023.

All 2.1 Million Federal Government Employees won’t get paid starting June 1, 2023.

All 4.1 Million Contractors working for the US Federal Government won’t get paid starting June 1, 2023.

All 500,000 Postal Workers won’t get paid starting June 1, 2023.

All 1.3 Million Active Duty Soldiers and all 799,500 Reservists serving in the US Military won’t get paid starting June 1, 2023.

An estimated 8.3 Million Americans will lose their jobs shortly after June 1, 2023.

The International Credit Rating of the United States will be lowered.

Interest Rates will rise.

A Recession will happen.

The US Dollar would decrease in value (meaning everything Americans buy within the US would rise in price.)

American Small Businesses will fail with the increased cost of goods and services and the high cost to get a loan.

Millions of Americans who lose their Federal Benefits and/or Jobs will become homeless and flock to already strained Food Banks.

 

Outside the United States:

Since most of the World relies heavily on the United States for many things (Defense, the US Dollar, Products, etc.) a World Wide Global Recession will hit every corner of the World.

The US will lose its standing as the Sole Super Power (which it has held for 32 years (78 years as a Dual World Super Power.)