shine trader live reports:
U.S. President Joe Biden signed a short-term bill to raise the federal debt ceiling on the 14th local time, temporarily raising the borrowing limit to $28.9 trillion and delaying the deadline for debt default to December. As a result, the US debt crisis has officially been temporarily alleviated.
Click to enter the next page: the police are on guard in the square on the west side of the American Council building. Photographed by China News Agency reporter Chen Meng
According to Reuters, if the debt ceiling is not raised, the U.S. Treasury Department estimated that the United States will not be able to pay government bills by October 18.
After weeks of partisan struggle, the US Senate approved the short-term solution last week, and the house of representatives also passed the resolution on the 12th.
In a letter to Biden after the Senate vote, Senate Republican leader McConnell wrote that he would not help the Democratic Party raise the debt ceiling again.
McConnell wants Democrats to use a procedural measure called reconciliation to improve lending rights, which does not require a Republican vote. But Democrats refused to use it as an option to lift the ceiling.
It is reported that the $480 billion loan limit increased in the bill signed by Biden is expected to be used up on December 3. The US Congress passed a temporary Appropriation Bill at the end of September to ensure that the federal government has enough funds to continue to operate until December 3.
If the two parties in Congress fail to reach an agreement on the budget and debt ceiling for the new fiscal year before December 3, the federal government will again face the dual risk of government shutdown and debt default.
It is reported that the debt ceiling is the maximum amount of debt set by the U.S. Congress for the federal government to fulfill the generated payment obligations. Touching this “red line” means that the borrowing authorization of the U.S. Treasury Department has been exhausted. The federal debt ceiling resumed on August 1 this year after a two-year suspension.
Reprint indicated source：Spark Global Limited information