18.05.2023. / 16:16
WASHINGTON – US President Joe Biden announced that he is confident that he and congressmen from the Republican and Democratic parties will reach an agreement on the budget and that the US will pay its debt.
Photo: Twitter
“We will unite because we have no alternative. To be clear, these negotiations are about the budget framework, not whether we will pay the debts or not.”the US president said.
He pointed out that the leaders of both parties agreed that they will not allow the US to get into a situation where it cannot pay its debts.
US Treasury Secretary Janet Yellen warned earlier that the US government could run out of money by June 1 if Congress fails to raise or suspend the debt ceiling.
The federal government debt currently stands at $31.4 trillion.
Reaching the debt ceiling would mean that the US government is no longer able to borrow money and, at the same time, would put it in a situation where it cannot repay the debt, which would shake global financial markets and destroy confidence in America as a global business partner, he states. Reuters”. Independent newspaper
Source: Capital.ba – Informacija je capital by www.capital.ba.
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