The White House is a commemoration of the state and local government about severe cuts to disaster assistance, Medicaid, infrastructure grants.
School money and other programs if the Congress fails to increase the US debt limit.
The fact sheet for state and local officials obtained by the Associated Press is an effort to raise public pressure on the leader of the Senate Republic of Mitch McConnell.
President Joe Biden has insisted on so far with bipartisan support to increase the debt cap that almost entirely obtained before he served, but McConnell, R-KY, has not been moved and has repeatedly said that the Democrats must act alone.
The Ministry of Finance has been involved in extraordinary steps to keep the government running after the deferred debt limit was restored in August at a rate of $ 22 trillion, around $ 6 trillion less than the current total debt burden.
Treasury extraordinary steps will expire in October, creating a default potential.
The debt limit is the amount of congressional money that allows the treasury to borrow so that the government will continue.
It was suspended three times during the Trump’s reign and has been raised dozens of times since 1960.
Made at the beginning of World War I so the Congress no longer needs to approve every issuance of bonds, the debt limit has evolved into a political weapon as a loan.
has increased sharply over the past two decades.
With a total debt that stands at $ 28.4 trillion, the government will be forced to cut in the program unless loan restrictions are lifted or suspended.
The risk of recession and chaos in the financial market will make it more difficult for countries and cities to borrow, while also playing chaos with public retirement investments.
Biden Administrative Fact Sheets make a case that pain will spread among countries because many programs depend on federal dollars.
The government’s ability to respond to natural disasters such as storms, earthquakes or forest fires will be limited.
The state will face severe medicaid shortages because the federal government includes two-thirds of costs.
About 20% of Americans get their health insurance through Medicaid and children’s health insurance programs.
Approximately $ 100 billion in infrastructure grants for highways, airports and general transit will be threatened.
More than $ 50 billion for special education, school districts that serve poorer students and other programs will also be threatened, such as $ 30 billion in food aid and $ 10 billion for public health.
The White House warns that the debt limit can hurt the country
