House approves raising US debt ceiling to avoid payments

Adding more – in advance – seems to dissolve the crisis, at least until mid-December 480 billion US dollars Available credit limit – For the first time in its history, the country arrives six days before it can borrow or repay. With increase, Credit limit will reach $ 28.9 trillion.

Dependence will have major repercussions on world markets, as it depends on American financial security. Inside the country, it will be difficult for the government to pay beneficiaries of social security schemes, ex-combatants and active military personnel..

Watch the video: Kuka Chakra comments on Pitan’s economic agenda

However, the matter is expected to be sent back to the United States in December, when Congress is expected to change the cap. The trend will be even more difficult, because that is when parliamentarians set the budget. When there is no consensus, there is a “shutdown”, that is to say the cessation of government activities.

If approved, the deal will avoid a Republican-Democratic separatist default, and the issue will recreate friction because the president Joe biden Plans to place more public investment in the US economy to generate growth. Republicans, on the other hand, criticize the government, accusing it of overspending.

In a letter to Biden on Friday, Senate Opposition Leader Mitch McConnell warned Republicans they would not back Republicans if they wanted to raise the Senate debt ceiling.

Source link

About Scott Conley

Check Also

Imran Khan left after laying landmines for new government: Miftah Ismail – Pakistan

Published on May 04, 2022 10:29 p.m. Miftah Ismail praises PTI’s Kamyab Jawab initiative KARACHI …

Leave a Reply

Your email address will not be published.