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Good day Patriots! I hope everyone reading this is doing well today!
There has been a lot of talk about potential debt default by US government, so we wanted to provided this detailed report of what to expect if that happens.
Below is an excerpt from the full article.
Billions of dollars of veterans benefits could be imperiled if the U.S. defaults on its debts, though the full extent of the fallout is uncertain because of the unprecedented nature of a default.
About $12 billion in veterans benefits are expected to be paid out June 1 -- the same day the Treasury Department has named as the earliest day a default could happen if Congress doesn't act to avoid it.
A default would likely delay those benefits, but for exactly how long would depend on the Treasury's next move after a default, experts who spoke to Military.com said.
"There is significant uncertainty as to what would occur because we've never been there," said Rachel Snyderman, senior associate director of business and economic policy for the Bipartisan Policy Center, the Washington, D.C., think tank that estimated how much money in veterans benefits is due to be paid in June.
The full article can be read at Military dot com link is provided here to this article.
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