If the country defaults on its debt, millions of people would lose their jobs, retirement accounts would be decimated, Social Security payments could be delayed, Medicare and Medicaid benefits could be affected, and military members could see paychecks delayed.
An estimated 399,000 North Carolina residents would lose access to food assistance, 8,000 kids would lose preschool and child care slots, and NC veterans would lose 284,200 doctors visits for issues like mental health and substance disorder treatment under the bill.
The president spoke at a Durham semiconductor maker about the billions of dollars in investments his administration has made in tech, climate change, and infrastructure.
The president will visit expanding Durham company Wolfspeed Tuesday to talk about his administration's investment in infrastructure, COVID relief, and research.
Republicans immediately rejected Biden's plan, but have yet to release their own budget. They have made it clear, however, that they want to apply deep spending cuts to everything from health insurance to food assistance benefits.