Sunday, June 4, 2023

What can happen after June 5?

USA being able to face a financial crisis a on the 5th of Junethe date on which the Department of Treasure from the funds to meet its accounting and financial obligations, according to Treasury Secretary Janet Yellen.

The The White House and the Republicans in Congress could not increase the country’s debt to meet its issuing capacity.

The federal government reached its debt ceiling in mid-January; 31.4 trillion dollarsTherefore, the fund adopted reasonable measures to continue meeting its obligations.

We recommend you

If these measures and cash dry up, they can only count the income for the financial expenses that can lead to the problem. the largest economy in the world is in default.

The next interest payment is due on June 15th. In the first two weeks of June, 302 billion dollars will be paid, but only 199 billion will come in, which represents a gap of 103 billion dollars.

The treasurer warned that if the debt ceiling was not increased, he would have to make difficult decisions. The government could prioritize some solutions either to reduce all expenses by 30% to adjust the collection.

The government is considering changing the way it transfers money to carry out the most important tasks.

The survivors could recover the day before the execution for several days. Another option is to defer payments until you have enough cash on hand. It is difficult to calculate the exact time of default.

In the highest, USA The financial crisis starts on June 5 if Congress and the White House do not reach an agreement to increase the country’s debt capacity.

If the treasury runs out of money to meet its obligations, it will only have income to cover its expenses, which could push the world’s largest economy into default.

Nation World News Desk
Nation World News Desk
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
Latest news
Related news


Please enter your comment!
Please enter your name here