Americans could lose $20,000 in retirement savings and private student-loan borrowers could see their payments surge if Republicans don't raise the debt ceiling, a new report says
A new congressional report delves into the catastrophe that would result should Congress fail to raise the debt ceiling.
"House Republicans' approach is dangerous and destabilizing," he continued."Even the threat of a breach will raise costs on everything from car loans to mortgages. Republicans are gambling with Americans' savings, benefits, and lives, all to play a political game." found that even if the country does avoid a default, Republicans' proposed spending cuts could trigger"a recession in 2024, costing the economy 2.6 million jobs at the worst of the downturn and pushing unemployment to a peak of near 6%."
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