The U.S. could run out of cash to pay its bills between July and September
NPR Online NewsAPR 2023
Republicans are holding the debt ceiling hostage in order to dismantle American welfare programs. Though raising the debt ceiling isn't a big deal in comparison to the repercussions of doing nothing, the new GOP majority is only too happy to continue with a stalemate as a government closedown will favor them. It's likely that the US will once again take a ride on the same stopgap merry-go-round as always, to the detriment of average Americans.
The chief financial officer of the US is begging Congress to increase the nation's credit line because lawmakers continually spend more money than they have. Democrats have been likened to an out-of-control child with a credit card, already having given nearly $100B to Ukraine while Americans struggle to pay for gas and groceries. Hopefully, this emergency will serve as a wake-up call to those in power to manage the nation's finances responsibly.