WASHINGTON: The US Parliament members chose to raise the federal debt limit on Wednesday, eliminating the threat of default disaster loans with only free spare hours from the deadline set by the Ministry of Finance.
The very split senate chose on Tuesday to raise loan caps of $ 2.5 trillion and the House of Representatives, the undercut congress, following the coat in the early hours of the next day – observing the next fight up to at least 2023.
“There is no brinksmanship, there is no default on Debt, no risk of other recession: responsible government has won this very important problem, “said the majority leader of the Senate Chuck Schumer on the floor before the sound in front of the sound.
“Americans can breathe easily and rest assured there will be no default.” Voting in both the Congress room followed the party line, with Republicans only offering one vote at home to give birth to a country from a potential disaster, and there was no sound at all in the Senate.
Both parties seemed to increase poisonous politically debt ceiling, even though they acknowledged that failure to do so would plunge the US economy into the depression and market of the world of Roil when the government skipped debt payments.
The Republican Party mainly hopes to give up on extensions to campaign against “excessive expenditure” democratically in the election of the middle legislative semester of 2022, although it will only include commitments that have been made by both parties.
Both parties agreed last week to create a one-time law that allowed Democrats to lift the authority of the nation’s loans without the help of the Republican Opposition Party.
Legislative Sleight-of-Hand avoids the rules of “filibuster”, so that the 60-40 margins needed can be left only for this vote, for the sake of a simple majority – which allows Republicans to stand on the sidelines.
The Bipartisan policy center, an independent Washington-based Think Tank Institute, estimates that the United States will no longer be able to serve its debt a few moments after December 21, even though the French Secretary of Janet Yellen determines the deadline on weekdays.
America spends more money than collected through taxation, thus borrowing money through the issuance of government bonds, seen as among the most reliable investment in the world.
About 80 years ago, MPs introduce the limit of how many federal debt can be obtained.
The ceiling has been raised dozens of times to allow the government to fulfill its expenditure commitment – usually without drama and with the support of both parties – and stands around $ 29 trillion.
The new loan hat will be $ 31.5 trillion.
Democratic leaders have spent weeks that underline the chaos that the default will be forged, including the loss of around six million jobs and $ 15 trillion in household wealth, and increased costs for mortgages and other loans.
“Overcoming the debt limit is the basic responsibility of the federal government,” the White House said in a statement.
“The part of this law will enable the treasury to finance the expenditure and deduction of Congress taxes has been authorized and to maintain its commitment without causing disruption or danger to our American economy and family.”
We avoid default credit with an 11-hour debt limit increase
