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US fears default due to rash actions by Biden

Date: October 1, 2023 Time: 14:22:24

It is not profitable for Biden to introduce a budget savings regime before the electoral campaign.

Photo: REUTERS

The US national debt has reached a new high. And if the politicians do not agree to raise its level, the United States is threatened with default. This means that the execution of budget items will be suspended, the payment of salaries to state employees, including the military, will be suspended, employees of state institutions will not go to work.

The Republicans, who have a majority in the House of Representatives in Congress, are prepared to allow an increase in the national debt of 1.5 trillion dollars, conditional on the introduction of an austerity regime. In this case, they are ready to vote for the corresponding law.

But Biden refuses to negotiate with House Speaker Kevin McCarthy, preferring to express his thoughts exclusively in conversations with reporters.

This approach does not bode well, and even in the White House itself, more and more officials began to admit the possibility that the US would default on its obligations. About it writes the publication Politico.

Journalists are sure that Biden’s “resistance” is due to the fact that the presidential campaign in the United States is nearing its peak. Biden’s rating, who intends to run for a second term, is not high, so the savings regime, which can be used to finance various programs without much worry, thus buying votes, is now unprofitable for him.

Senator Joe Manchin recently said that Biden’s refusal to negotiate would lead the United States “to a historic default.”

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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