The White House asked the US Congress to vote as soon as possible to extend the current budget, so that the US does not experience in a month the much-discussed shutdown, the paralysis of a large part of the federal state, which means that Americans have already exceeded the extension of the limit debt, to which the Republicans had agreed in June!<\/p>\n\n\n\n
The goal, according to the announcement, is to “avoid serious disruptions to federal operations” once the new fiscal year begins on October 1. “We need to fund programs important to Americans and address urgent needs,” said President Joe Biden’s spokeswoman, Karin Jean-Pierre, who said if a vote is not held soon, food aid programs could be in jeopardy.<\/p>\n\n\n\n
“There’s no reason why Congress can’t do its job,” he added.<\/p>\n\n\n\n
The US Congress is currently divided, with the Senate in the hands of the Democrats and the House of Representatives in the hands of the Republicans.<\/p>\n\n\n\n
It is the second time in a few months that the world’s largest economy is facing the risk of political and economic impasse, and this is the first time in US history that this has happened, and it is something that demonstrates the very bad state of the American economy due to the Biden administration. <\/p>\n\n\n\n
It was only in June that the threat of a default was averted after lengthy negotiations between the Biden administration and the Republicans<\/p>\n\n\n\n
The suspension of payments would be something unprecedented, however the US has experienced several times, more or less prolonged shutdowns, periods of fiscal paralysis. But times were different then. Back then the dollar was not challenged, its influence as a reserve currency was not reduced and also there was not a bloc of dozens of countries that wanted to de-dollarize their economies.<\/p>\n\n\n\n
Also, the American economy had not been downgraded by Fitch in the past, and neither had American banks been downgraded by Moody’s.<\/p>\n\n\n\n
The debate this time will focus on about $20 billion in additional funds that the presidency requested on August 10.<\/p>\n\n\n\n
In particular, President Biden wants Congress to approve an additional $13 billion in aid to Ukraine. In short, due to the process of weaning off the dollar followed by many major economies of the world, the Americans no longer have the opportunity to print abundant dollars as before, so the extension of the debt limit agreed in June was consumed in \u2026 Ukraine.<\/p>\n","protected":false},"excerpt":{"rendered":"
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