Job cuts, no Social Security checks: How consumers could be pinched by a US government default

All the hand-wringing in Washington over raising the debt limit can seem far removed from the lives of everyday Americans, but they could end up facing huge consequences.

If the economy tanked due to default, more than 8 million people could lose their jobs, government officials estimate. Millions of Social Security beneficiaries, veterans and military families could lose their monthly payments. Vital federal services including border and air traffic control could be disrupted if workers can’t get their government paychecks.

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