This will be the first time in the country’s history and will cause irreparable damage to the US economy, but also to the global financial markets.
By October 18, monetary reserves in the United States may be completely exhausted and the ability to fulfill obligations may be lost.
To prevent this situation, US Treasury Secretary Janet Yellen sent a letter to Congress, where she stated the urgent need to either increase or freeze the national debt ceiling.
Yellen stressed that if no measures are taken in the near future, the Ministry of Finance will exhaust the potential of its emergency measures, after which the Ministry will not be able to fulfill its obligations.
This will be the first time in the country’s history and will entail not only irreparable damage to the US economy, but also to global financial markets, Prime reports.
It is noteworthy that today the Congress is also considering a bill on the abolition of restrictions on borrowing until the end of 2022.
It is worth noting that on July 31, the US Congress has already frozen the threshold of the national debt, but its threshold has not been lowered and is now approaching the maximum mark.
It should be noted that in Congress, Republicans are in favor of another lowering of the threshold, but on the condition that the Joe Biden administration and the Democrats will take steps to reduce the national debt, as well as reduce spending.
Earlier, Topnews wrote that Zyuganov gave a rather disappointing forecast for the economic state of Russia, calling signs of a new default in the country.