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"We were prepared, but not ready;" Small business owners recovering from flooding

The article from Yahoo News discusses the ongoing debate over the U.S. debt ceiling and the potential economic repercussions if it is not raised. Treasury Secretary Janet Yellen has warned that the U.S. could default on its debt as early as June 1, 2023, if Congress does not act. This situation has led to a divide between Democrats and Republicans, with the latter pushing for spending cuts in exchange for raising the debt ceiling. The article highlights the concerns of small business owners, like a restaurant owner in Washington, D.C., who are already facing economic pressures from inflation and supply chain issues. These business owners are worried about the additional uncertainty a default would bring, potentially leading to higher borrowing costs, reduced consumer spending, and economic instability. The piece also notes that while some in Congress are pushing for a resolution, the political brinkmanship could have severe consequences for the economy, affecting everything from personal finances to national security.

Read the Full Yahoo Article at:
[ https://www.yahoo.com/news/were-prepared-not-ready-small-004308765.html ]