The U.S has been trying to navigate high inflation persistently as well as soaring interest rates. In addition, the country has been dealing with banking turmoil following recession fears. Now, they prepare for the unthinkable, there is a potential for the U.S. to face debt default. From early last month, Kimberly Dickerson called up her creditors. She asked about contingency-related plans. It was in the event that her Social Security Disability check does not land in June. She spoke in Virgina that the only way she could say about this is going to be catastrophic.
Days went by, the debt ceiling negotiations continues on Capitol Hill as a deadline of default is getting unthinkable. In this case, average Americans have been noticing and trying whatever it takes to protect themselves and their livelihoods. Based on the source from CNN, they are increasingly worried about the threat of the defalut in the U.S. on some or all of the financial responsibilities. In addition, there are also some effects of any spending cuts due to negotiations.
As a result, Teri House of Kansas had met a financial adviser about the case. It takes the advice on whether she could bear the cost if her elderly mother’s federal assistance is interrupted. It might put the Navy veteran’s established memory care services at risk, said CNN. In the same scenario, Utahn Bob McGee, the person who stays steady on investment, liquidated more than scheduled to hoard enough cash for six month’s expenses. Another case points Navy Griffin, the Arkansas graduate whose early career has been affected by the negative and historic developments. She worries about another setbacks she possibly face during this situation.
