Sunday, June 4, 2023

Yellen extended the ceiling deadline for debt action to June 5

WASHINGTON – The Secretary of the Treasury, Janet Yellen, informed the Congress this Friday that, if the agreement reached the debt ceiling not to be paid or suspended, the government may suffer a suspension of payments on June 5.

In a letter to House Republican Majority Leader Kevin McCarthy, Yellen estimated that her department would be stressed for four days to meet the end of subsidies to pay the debt, and insisted that lawmakers avoid it “as soon as possible.”

“Waiting until the last minute to raise the debt ceiling can cause serious damage to business and consumer confidence,” the economist added.

The man with the talks is said to be “deep” between the administration and the legislative leaders, whether to agree to the demands of the country or not to impose stricter work requirements on the people who receive government food stamps, financial aid, and health care, and they are. some vulnerable Americans.

Heading into the weekend, however, both Biden and McCarthy expressed hope that they could close the gap between the positions.

The two-year deal would raise his debt to a period that would extend beyond the 2024 presidential election.

House Republicans have pushed the issue to the limit, even showing the political risk of leaving town for the Memorial Day holiday, which falls next Monday.

The United States could face a new wage default, potentially causing chaos in the world economy.

Nation World News Desk
Nation World News Desk
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