Joe Biden’s race against time to avoid bankruptcy of the United States.
President of the United States Joe Biden met at White House Republican Speaker of the House Kevin McCarthyTo continue negotiations aimed at raising the debt ceiling. June 1 is the last day to save states from economic disaster, after that date Government He no longer had enough money to pay off his debts.
In the event of default, pensions, supplier accounts, stockholders’ interests, and army salaries would go up, as well as an unspecified number of jobs. To save the economy, the debt ceiling must be raised to $31.4 billion. But the clash is about cuts. If Biden proposes to keep spending unchanged, Republicans would want less spending in 2024 than in 2023.
There are no small details if you believe that 2024 will be the year of the next presidential election and the ability to rely on a reduced spending budget that could weaken President Biden’s position as he runs for a second term.
President Joe Biden and House Speaker Kevin McCarthy were unable to reach an agreement Monday on how to raise the US government’s $31.4 trillion debt ceiling with just 10 days before a possible repayment. https://t.co/eNrIgQPUtQ pic.twitter.com/hYF9MPdmTD
Reuters May 23, 2023
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