If Congress doesn’t raise the federal government’s debt ceiling, America will default on its debt obligations in a matter of weeks, potentially triggering a worldwide economic crisis that would almost immediately pose major and lasting trouble for K-12 schools.
Education advocates on Capitol Hill are fretting over the consequences of a default that could happen as early as June 1. Such a default has never happened before, leaving most wondering how exactly it would play out.
If a default happens before July 1, the federal government might be unable to distribute billions of dollars for high-need students, special education services, and English-language instruction. Because school districts—many of which have already set their budgets for the coming year—count on those funds, teacher layoffs, academic program cuts, and administrative chaos could ensue. Click here to read more: https://www.edweek.org/policy-politics/so-catastrophic-how-a-debt-ceiling-breach-would-hurt-schools/2023/05?utm_source=nl&utm_medium=eml&utm_campaign=eu&M=6854038&UUID=2765caa861b1795e0bd34aac8ec61736&T=9166837