MIAMI VALLEY — The House of Representatives has passed the debt ceiling bill, averting what would have been the first U.S. default.
Just days before the June 5 deadline The House voted to pass a deal that suspends the debt ceiling for two years.
Dr. Mark Caleb Smith, director of the Center for Political Studies at Cedarville University, said if the bill had not passed we would have seen a disruption in governmental services.
- Federal workers may go unpaid
- Medicare & Medicaid could be disrupted
- Social Security recipients might not get their checks on time
- Interest rates could surge
Since the bill did pass, it means people in the Miami Valley may not notice much of a change.
“I think it’ll mean the status quo for the most part...doesn’t dramatically decrease spending,” Smith said.
Smith said he does expect it will reduce spending over the next 10 years, assuming the bill stays as it is.
The bill now needs to pass in the Senate where it could be facing another uphill battle. That voting could take place this weekend.
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