Here’s what could happen to the military if the US defaults on its debt
by Ellen Mitchell - 05/14/23 3:45 PM ET
As the United States stares down the barrel of a deadline to raise the national debt ceiling, past and current Pentagon leaders are sounding the alarm on how such an event could be deeply damaging to the country and those who keep it safe.
Disrupted pay for service members, late benefits checks for veterans and a hit to U.S. national security are only a glimpse into what could come.
Defense Secretary Lloyd Austin made that much clear this week, telling lawmakers that the Pentagon “won’t, in some cases, be able to pay our troops with any degree of predictability,” should a default come to pass.
And Joint Chiefs of Staff Chair Gen. Mark Milley said such an event could also “embolden China and increase risk to the United States.”
The debt limit is the dollar figure up to which the Treasury Department can borrow to pay for congressionally approved spending decided through the annual appropriations process.
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https://thehill.com/policy/defense/4002554-heres-what-could-happen-to-the-military-if-the-us-defaults-on-its-debt/