Well, howdy there internet people, let's go again. So today we are going to talk about

debt ceiling what ifs. Talk about three different scenarios that were examined by Moody's

analytics, which if you're not familiar with this firm,

they are a financial intelligence firm.

They try to provide information so business owners can make the best decisions they can.

That's their gig.

They ran some scenarios, ran the numbers, and they came up with some forecasts that are definitely worth noting.

We're going to start with the two options when it comes to an actual default. The United States defaults on its

loans. The Republican Party says, no, we're not raising the debt ceiling. A short default will trigger a mild recession and a

million people will lose their jobs. A longer default, one where the situation isn't fixed quickly, will result in 7 million people losing their jobs and household wealth dropping by 10 trillion

dollars as the stock market loses about 20% of its value. Neither one of those are good. These are both

really bad scenarios. The third scenario that they put together is what happens if Republicans get their way with the spending cuts.

Part of this is the Republican Party trying to leverage the debt ceiling to engage in a show for its lesser informed base

and engage in spending cuts that don't actually get to a balanced budget and somehow trying to

pretend that that's helping the debt, the deficits.

And it's just, anyway. So, reduction in government spending of the type the Republican

Party is looking at, meaning leaving the things off the table that they say they're leaving off the table and all of

that.

It will cause a recession, a loss of 2.6 million jobs, and an unemployment rate going up to 6%. They would expect that to

occur in 2024. This is how the Republican Party plans on helping the American working class by

apparently putting a little bit more than two and a half million of them out of work

causing a recession, increasing unemployment.

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