The U.S. will default* in June unless Democrats and Republicans reach a consensus - Printable Version

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+--- Thread: The U.S. will default* in June unless Democrats and Republicans reach a consensus (/Thread-The-U-S-will-default-in-June-unless-Democrats-and-Republicans-reach-a-consensus)

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The U.S. will default* in June unless Democrats and Republicans reach a consensus - Bigiron - 24-04-2023

The U.S. will default* in June unless Democrats and Republicans reach a consensus 
#Econgram_US

Facts:
1) Recently, the U.S. hit a $31.4trn debt ceiling*. Economists predict that America could default on its debt in June.
 
2) In response, Democrats* asked to lift the debt limit to repay creditors. However, Republicans* demanded a spending cut in exchange.

Analysis:
1) Republicans proposed several measures that would reduce billions in public spending. That will undermine Biden’s government policy priorities but would make the American debt sustainable. However, the President is reluctant to accept any compromise.

2) Republicans proposed to annul roughly $50-$60bn of the pandemic relief funds that have not yet been used. Besides, they suggested reducing spending on climate measures and other Biden initiatives. 

3) House Republicans set the ambitious plan of balancing* the budget in ten years. Given the increase in the cost of borrowing due to inflation, they need to cut $3.6trn in spending over a decade.

4) Overall, if parties do not reach a consensus, then the U.S. will default. That would lead to a global financial crisis and a recession.

https://www.nytimes.com/2023/04/20/us/politics/republican-debt-limit-bill.html?smid=nytcore-ios-share&referringSource=articleShare

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RE: The U.S. will default* in June unless Democrats and Republicans reach a consensus - Manthink - 24-04-2023

...the US treasury continue its US$-printing business while the World drown in its exported inflation...

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RE: The U.S. will default* in June unless Democrats and Republicans reach a consensus - Tangsen - 24-04-2023

O$P$

Disunited Shite of Assmericunt should just cut back on their military adventure of misadventure globally, this will definitely help

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RE: The U.S. will default* in June unless Democrats and Republicans reach a consensus - winbig - 24-04-2023

They need to wayang a bit then print. If don't wayang other countries will kpkb.

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RE: The U.S. will default* in June unless Democrats and Republicans reach a consensus - RiseofAsia - 24-04-2023

I thought last week got 1 day missed the payment…

资不抵债 Sia!

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RE: The U.S. will default* in June unless Democrats and Republicans reach a consensus - Manthink - 24-04-2023

(24-04-2023, 10:33 AM)winbig Wrote:  They need to wayang a bit then print. If don't wayang other countries will kpkb.

Well, US politicians knows this replayed-Wayang show seems to be ending (very) soon.  With the time ticking away at USD credibility, we starting to see once-very supportive audiences  leaving from glacier rate to avalanche speed....

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