Joe Biden expects a debt ceiling deal before the end of the day

Joe Biden expects a debt ceiling deal before the end of the day

US President Joe Biden said he was “optimistic” about reaching an agreement to avoid defaulting on his debt.

Amid tensions between republicans and democrats by the parliamentary imposition of a debt ceiling. Within this framework, and after the measures of Janet Yellensecretary of United States Treasurywhich extended to 5th June the deadline to raise the federal debt limit -currently set to US$ 31.4 billionJoe Biden gave public statements about the possibilities of avoid default.

The possibility of an agreement is very close and I am optimistic. I am hopeful that tonight we will know if we will be able to reach an agreement,” the president told reporters accredited to the White House.

In that framework, Biden gave the most concrete nod to the possibility of an understanding between the two US political coalitions so that the country is not unable to honor its commitments and risks a defaultwhose consequences can unleash a subsequent recession and job losses.

own Janet Yellen informed the republican leader of the House of Representatives, kevin mccarthythat “based on the latest data available, we now estimate that the Treasury will have insufficient resources to meet the obligations government if Congress did not raise or suspend the debt ceiling on June 5.

In addition, it increases the international pressure for generating a pact that enables the US government to extend its debt to refinance the commitments already assumed. The managing director of International Monetary Fund, Kristalina Georgievaasked this Friday at a press conference to reach a solution “as quickly as possible” and commented that “finishing with a positive result is essential from the world point of view.”

Meanwhile, in the parliamentary sphere, the crossings between legislators continues. Democratic minority leader Hakeem Jeffriesaccused Republicans on Thursday of risking “a dangerous default in a crisis that they themselves created“and to take the economy hostage.

Source: Ambito

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