Sen. Manchin Sounds Alarm: How the Debt Ceiling Could Impact Your Finances

In a move that has sparked controversy, the White House has proposed that Democrats address the debt ceiling without the help of the GOP. This has caused Senator Joe Manchin to express his disapproval, calling it a “mistake.”

The debt ceiling is a limit on how much money the U.S. government can borrow, and if it is not raised, it could have serious repercussions. According to Fox Business, economist Joe Cassella believes that the debt ceiling could “rock” the economy and markets.

Despite the potential risks, U.S. Treasury Secretary Steven Mnuchin is confident that Congress will raise the debt limit. 11Alive reported that Mnuchin believes the debt ceiling will be raised in time to avoid any economic disruption.

CNBC has stated that the U.S. has already hit the debt ceiling, and this could have an impact on American citizens’ money. It is yet to be seen whether Congress will be able to raise the debt ceiling and prevent any economic consequences.