If the debt ceiling isn’t raised, a recession could follow and skyrocket unemployment. To understand the ramifications of the debt ceiling showdown, Teen Vogue spoke to BernieSanders about why young people should be paying attention to this mess. ⬇️
It would be terrible. Right now, it is no secret that the younger generation is struggling economically. In most cases, they’re worse off than their parents. It’s really quite incredible, despite the increase in wealth in this country because the wealthand not to the middle class and working families. A default means you’re simply not paying your bills. If the United States defaulted, the world economy would be in turmoil.
You can argue about new spending, [but] this is spending that already took place under Trump, under Biden, and under previous presidents. Now, they’re saying we spent the money, [but] we don’t want to pay off our debts. That’s a disaster and it’s very dangerous.As you said, the younger generation is worse off than their parents and there can be this feeling of hopelessness and powerlessness.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
In debt ceiling fight, McCarthy can’t shake his arithmetic problemAs Speaker Kevin McCarthy's debt ceiling hostage crisis moves forward, he can't overcome one of his biggest problems: His arithmetic doesn't work.
Read more »
Texas defense hawks urge Congress away from military funding cuts to raise the debt ceilingTexas Republicans in the U.S. House are working with their divided party to eke out a path forward on raising the debt limit.
Read more »
Failure to Raise U.S. Debt Ceiling Would Lead to ‘Economic and Financial Catastrophe,' Yellen SaysTreasury Secretary Janet Yellen warned that defaulting on the debt ceiling would lead to financial catastrophe.
Read more »
Bipartisan Problem Solvers Caucus race to resolve debt ceiling impasse before 'unacceptable' defaultA bipartisan group of congressmen is hunting for a pathway out of the debt ceiling deadlock that could prevent the nation from paying its bills by June.
Read more »
Small businesses have keen interest on debt ceiling debate in CongressAs lawmakers on both sides try to reach a compromise, experts warn if Congress fails to raise the debt ceiling, it could have a dire impact on millions of small business owners.
Read more »