June 7, 2023

Lakeview Gazette

Complete News World

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

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

Amid tensions between Republicans Y Democrats A. due to the imposition of Parliament Loan ceiling. Within this framework, and after actions Janet YellenSecretary US Treasuryextended to June 5 Deadline for raising Federal credit limit -Currently set USD 31.4 billionJoe Biden He made public statements about the possibilities Avoid the default.

The prospect of an agreement is imminent And I am hopeful. I believe we will know tonight whether we can reach an agreement,” the president told reporters. White House.

In that framework, Biden gave a very firm approval to An understanding between the two US political alliances is possible So the country cannot honor its obligations and risks defaultIts consequences can unleash a further wave Depression Y Job losses.

own Janet Yellen informed President of the House of Representatives, Kevin McCarthy“Based on the latest data available, we are now evaluating it There are insufficient resources in the treasury to meet the obligations If Congress does not raise or suspend the debt ceiling on June 5, Govt.

Additionally, it increases International pressure To create an agreement that would enable the U.S. government to extend its debt to refinance debt already accepted. Managing Director International Monetary Fund, Kristalina GeorgievaAt a press conference this Friday he called for a solution to be reached “as quickly as possible” and commented that it was “necessary to conclude with a positive result from a global perspective”.

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Meanwhile, in the Parliament complex, clashes between legislators continue. Minority Democratic Leader Hakeem JeffreysOn Thursday, he accused Republicans of being at risk of “A dangerous default in a crisis of their own making“And to take the economy hostage.