Economy

16 Things That Will Happen If Congress Defaults on the Debt

Mother Jones compiled the list. Here’s a summary of the first half of the horror:

1. Social Security payments will be delayed, possibly cut.

2. Federal employees will be screwed…even more.

3. Pay and benefits for military service members and veterans will be delayed, possibly cut.

4. Medicare and Medicaid checks will be delayed, possibly cut.

5. College kids will lose their private loans and have (even more) trouble getting jobs.

6. Say goodbye to your retirement savings.

7. Good luck buying a home.

8. Or a car. See above.

9. Or getting a credit card. Ditto.

“Say goodbye to your retirement savings” alone should terrify everyone.