The scene inside the United States has become as follows: A country is afraid of entering the dark tunnel of bankruptcy, starting next June, that is, days later, the largest global economy is threatening to enter the circle of infernal financial stumbling, the ruling poles fail to reach an agreement that allows the Biden government to raise the ceiling Debt, which allows it to obtain more foreign and domestic loans to cover the obligations owed by it, including government spending on health care, education, infrastructure, and US forces abroad, Biden fails to persuade congressional leaders to pass an increase in the debt ceiling in order to avoid an impending financial crisis, agreeing to contain the crisis The current situation has become far away in light of the intense political tensions, and each ruling party was keen to deliver a knockout punch to the other team, which would be used in the upcoming presidential elections.
The White House, which does not want to make any concessions or negotiate raising the debt ceiling, is looking for tricks and exceptional measures to avoid the United States entering a default crisis and stopping debt repayments. Another meeting will be held today, Friday, and includes Biden and congressional leaders to discuss a solution to the debt ceiling impasse. The global and American financial markets are watching the heated battle between Biden and Congress and awaiting any positive signs from both sides.
US Treasury Secretary Janet Yellen warned us again, yesterday, Thursday, that the failure of the United States to pay its obligations will lead to an economic and financial catastrophe, and will raise questions about America’s ability to defend our national security interests. Millions of Americans could lose their jobs, household incomes would be slashed, American businesses would experience a deterioration in credit markets and millions of families receiving government payments would likely be left without the resources that were promised.
-On Wednesday, former President Donald Trump entered the line, making an important statement in which he called on Congress not to allow the debt ceiling to be raised, and to allow the United States to default on its debts, thus entering the country into the tunnel of bankruptcy and dark default, and stopping paying debts owed to creditors, led by China, Japan and other countries. Gulf.
-Trump’s statements are pouring more oil on the fire of the current flaming crisis between the Biden administration and Congress, and deepening the differences between the two ruling parties, and therefore all possibilities and scenarios exist, either reaching a deal between the two ruling parties, or the United States slipping towards the risk of bankruptcy, which will have serious repercussions. Not only on the US economy but on the global economy.
What is remarkable here is that Trump came out to incite directly against the state and demanded that his party allow it to falter, and no one came out to us to say that Trump is a traitor and unpatriotic, as the man used his constitutional right to express his opinion and attack his political opponent, Biden and his Democratic Party.
