“If lawmakers fail to strike a deal to avoid default, experts say the shock could plunge the world into recession and a financial crisis. Even a prolonged showdown over the debt ceiling could rattle markets and derail a global economy already weakened by inflation, rising interest rates and the lingering scars of the COVID-19 pandemic.” [efn_note]The Hill, Sylvan Lane and Aris Folley, January 18, 2023 – Five ways a debt limit crisis could derail the US economy[/efn_note]
- Rising recession risks
- Global financial crisis
- Americans could lose crucial federal benefits
- Higher interest rates
- Falling public trust
The voters voted these Republicans in, now the voters will pay the consequences.