US President Joe Biden believes that in the event of a default in the United States, economic problems await all countries of the world. He stressed that in this case, we are talking about maintaining the reputation of the United States as a reliable partner, which is of great importance for the global economy.
“If we default on the debt, the whole world will have problems,” Mr. Biden said, speaking about raising the debt ceiling in New York, his words are quoted by the agency Reuters.
“There is a great deal of discussion going on about protecting America’s hard-earned reputation as a reliable partner you can trust,” the US president said. “This is of great importance for the American economy, but also for the world … Now is not the time to risk sliding into a recession, millions of jobs, America’s status on the world stage,” Joe Biden said.
US Treasury Secretary Janet Yellen on May 1 in a letter to the leaders of the House of Representatives said that the available resources of the Treasury could run out by June 1 if the national debt limit is not raised. In this case, the US will face a default on public debt this summer.
The Joe Biden administration insists on raising the national debt ceiling, representatives of the Republican Party oppose it. According to Bloomberg, 43 Congressional Republican Senators, including Republican Minority Leader Mitch McConnell, opposed raising the national debt ceiling without budgetary reforms.
#default #result #problems #world #Kommersant
2023-05-10 20:43:00
