The debt limit crisis continues in the USA! Biden accuses 'Republicans'

Biden, in his statement at the White House on the subject, emphasized that raising the debt limit is related to the payment of old debts, not planned new expenditures.

Pointing out that the Republicans are in a “reckless and dangerous” attitude regarding the increase of the debt limit, Biden warned that the reserve currency status of the dollar may be threatened if the debt limit is not increased. Biden said, “A meteor is about to hit our economy. The Democrats will do everything to stop it,” Biden said. Republicans should just let us do our job.”

When Biden was asked whether he could guarantee that the US debt would not exceed its limit, he said, “No, I can’t.”

– Debt limit crisis

The federal government in the USA,

The debt limit means the upper limit of the amount of money the US government can borrow to pay off its debts.

Technically, as the deadline for the debt limit expired on August 1, the US Treasury Department began to take “extraordinary measures” so that the government could continue its payments.

Increasing the debt limit U.S. Treasury Secretary Janet Yellen, who has repeatedly called on the Congress to suspend or raise the debt limit, has recently stated that the Treasury’s extraordinary measures will be exhausted if Congress does not take action to increase or suspend the debt limit by October 18.