Baller Alert
  • Home
    • News
    • Entertainment
    • The Baller Alert Show
    • Baller Alert Lists
    • Baller Alert Exclusives
    • Let Me Liv
    • Ballerific Music
    • That’s Baller
    • Fashion
    • Metaverse
    • Tech
    • Lifestyle
    • Sports
    • Op-Ed
    • Travel
    • Health
  • EVENTS
  • Videos
  • Shop
  • About
  • Political News
  • en español
No Result
View All Result
  • Home
    • News
    • Entertainment
    • The Baller Alert Show
    • Baller Alert Lists
    • Baller Alert Exclusives
    • Let Me Liv
    • Ballerific Music
    • That’s Baller
    • Fashion
    • Metaverse
    • Tech
    • Lifestyle
    • Sports
    • Op-Ed
    • Travel
    • Health
  • EVENTS
  • Videos
  • Shop
  • About
  • Political News
  • en español
No Result
View All Result
Baller Alert
No Result
View All Result

The United States Government to Run Out of Money by October 18th

by Precious Gibson
September 29, 2021
Reading Time: 1 min read
0
Stimulus Check

istock

Share on FacebookShare on Twitter

The United States is facing dire financial straits and will likely run out of money by October 18th.

Treasury Secretary Janet Yellen warned that the U.S. could face a catastrophic financial collapse if lawmakers don’t agree to increase the debt ceiling. The grim warning arrived just hours after Senate Republicans shot down a bill on Monday that would have suspended the debt limit.

If no action is taken by mid-October, the United States will endure its first default in history. Social Security benefits, food stamps, child tax credits, and military pay will be threatened if the federal government cannot secure additional funding. Even more troubling is that state and local jurisdictions will no longer have access to federal funds when natural disasters and unforeseen circumstances such as the COVID-19 pandemic occur. Additionally, experts say that interest rates could spike, and stock prices could plunge drastically.

Democrats argue that the Trump administration’s $5 trillion in tax cuts and spending last year is partially to blame for the current financial crisis. This year, the $1.9 trillion American Rescue Plan contributed to the piling debt. President Biden is also pressing Congress to pass another $1 trillion infrastructure package and $3.5 trillion budget bill. The current debt ceiling sits at $28.4 trillion, while the country’s debt is currently at nearly $28 trillion.

If lawmakers cannot get on the same page by Friday, another government shutdown is possible.

Share this:

  • Click to share on X (Opens in new window) X
  • Click to share on Facebook (Opens in new window) Facebook
  • Click to share on Mastodon (Opens in new window) Mastodon
  • Click to share on Reddit (Opens in new window) Reddit
  • Click to share on X (Opens in new window) X
  • Click to share on WhatsApp (Opens in new window) WhatsApp
  • Click to share on Tumblr (Opens in new window) Tumblr
  • Click to email a link to a friend (Opens in new window) Email
  • Click to share on Pinterest (Opens in new window) Pinterest

Like this:

Like Loading...

Discover more from Baller Alert

Subscribe to get the latest posts sent to your email.

Related Posts

Scott Storch Says He's ‘Disgusted’ by Ex’s Racist Rant Against LA Valet Attendants
News

Scott Storch Calls Out Kanye West and Diddy in Explosive Podcast Interview

June 27, 2025

Scott Storch isn’t holding back, and on the PBD Podcast, he made that crystal clear by speaking openly and without...

Kim Kardashian to Testify in Paris Heist Trial Nearly a Decade After Armed Robbery
Entertainment

Kim Kardashian Cast as Villain in Live-Action Bratz Movie

June 27, 2025

Kim Kardashian’s back in her acting bag, and this time with a villain role that has a passion for fashion...

Shanteari Young Speaks After Prison Release for Shooting Husband Over Child Abuse
News

She’s Out: Maryland Woman Who Shot Her Ex Over Alleged Child Abuse Released from Prison

June 27, 2025

Shanteari Young is no longer behind bars. The former Baltimore daycare owner who shot her husband after learning he was...

Kanye West and King Combs Drop Surprise Album “Never Stop” Featuring North West
Entertainment

Kanye West Drops Surprise Album with King Combs Featuring North West and a Track Called “Diddy Free” [Audio]

June 27, 2025

Kanye West and King Combs just dropped an album out of nowhere in support of Diddy. The project, called Never...

Next Post
Jinhuan Chen

Greyhound to Pay $2.2 Million to Settle Lawsuit Over Warrantless Immigration Sweeps

Leave a ReplyCancel reply

Baller News

Subscribe To Our Newsletter

* indicates required

Follow Us

Subscribe to Blog

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

© Copyright 2024, Baller Alert Inc. All Rights Reserved

No Result
View All Result
  • Home
    • News
    • Entertainment
    • The Baller Alert Show
    • Baller Alert Lists
    • Baller Alert Exclusives
    • Let Me Liv
    • Ballerific Music
    • That’s Baller
    • Fashion
    • Metaverse
    • Tech
    • Lifestyle
    • Sports
    • Op-Ed
    • Travel
    • Health
  • EVENTS
  • Videos
  • Shop
  • About
  • Political News
  • en español
%d