Debit Limit Ceiling Crisis Could Hit Your 401(k), Social Security and Medicare

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America’s debt ceiling was reached – again – on January 19, 2023 as the country exceeded its $31.4 trillion spending cap. The cap was raised to that amount in December 2021. As much terms like “ceiling” and “cap” are used in this discussion, the truth is this limitation is more of a temporary hindrance than a cut-off – the cap has been raised 78 times since 1960.

While this may seem like a topic outside of your realm of concerns, the longstanding effects…

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