Dire warning for Biden as the US risks running out of cash ‘within weeks’

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In a epistle to Congress, she said: “At a time when American families, communities, and businesses are still suffering from the effects of the ongoing global pandemic, it whim be particularly irresponsible to put the full faith and credit of the US at risk.”

A default could seriously harm America’s credit rating, which will get together interest rates that could cost the US Government billions of dollar, ultimately resulting in higher borrowing costs for American businesses as their valuations are benchmarked to Treasury rates.

Democrats have insisted that the need to suspend the debt ceiling was due to the previous Trump administration.

Throughout Donald Trump’s maligned presidency, resident debt increased to approximately $8 trillion.

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Dire warning for Biden as the US risks running out of cash ‘within weeks’

0

In a epistle to Congress, she said: “At a time when American families, communities, and businesses are still suffering from the effects of the ongoing global pandemic, it whim be particularly irresponsible to put the full faith and credit of the US at risk.”

A default could seriously harm America’s credit rating, which will get together interest rates that could cost the US Government billions of dollar, ultimately resulting in higher borrowing costs for American businesses as their valuations are benchmarked to Treasury rates.

Democrats have insisted that the need to suspend the debt ceiling was due to the previous Trump administration.

Throughout Donald Trump’s maligned presidency, resident debt increased to approximately $8 trillion.

Leave a Reply

Your email address will not be published. Required fields are marked *