The former US president, a new candidate for the White House, believes that Republicans must obtain massive budget cuts, while the Biden administration fears a default.
Former President Donald Trump on Wednesday urged Republican lawmakers to default on US debt unless “massive” budget cuts.
“To elected officials, to senators, I say: if they don’t give you massive cuts, you’re going to have to cause a payment default”, launched the Republican, candidate for the 2024 election, during an exchange with voters, moderated by CNN.
“The Democrats will give in”
Democrats and Republicans are engaged in a tussle over raising the US debt ceiling, a necessary legislative maneuver so that the world’s largest economy can continue to pay its bills, its officials and its creditors.
Donald Trump estimated that the default would still probably be avoided, predicting that the Democrats would “give in” on the file.
His Democratic successor Joe Biden, however, has ruled out negotiating budget cuts for the time being, accusing Republicans in Congress of holding the economy “hostage”.
Without a vote in Congress, the United States could find itself in default of payment this summer. This situation would, according to the White House, have catastrophic consequences on employment and growth in the country, in addition to destabilizing global finance.
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2023-05-11 00:54:56
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