US President Joe Biden has warned that “the whole world will be in trouble” if the US defaults.
“WORLD LEADERS ARE WONDERFUL”
Biden, in the program he attended in New York, stated that world leaders are curious about the default risk in the USA. US President Biden: “Because if we default, the whole world will be in trouble.” said. Describing the debt limit crisis as a “manufactured crisis”, Biden said that the United States is the world’s strongest economy and there is no doubt that it can “pay the bills”.
“WE SHOULD LOWER EXPENDITURE”
“We must responsibly cut spending and reduce the deficit without an unnecessary crisis,” Biden said. used the phrase.
Biden warned of the possible consequences of default, which could result in higher interest rates for credit cards, car loans and mortgages, delays in social security payments and job losses.
THE AGENDA WAS THE DEBT LIMIT
“Our economy goes into recession and our international reputation is severely damaged,” Biden said. made its assessment.
With less than a month to go before the federal government hits its $31.4 trillion debt limit and is short of cash, President Biden was invited to discuss the debt limit issue by Speaker of the U.S. House of Representatives Kevin McCarthy, House Minority Leader Hakeem Jeffries, Senate Majority Leader Chuck Schumer and He met with Senate Minority Leader Mitch McConnell yesterday.
Biden, at the press conference held after the meeting, stated that the meeting was “productive” and that they would meet again on Friday. (AA)