Monday, November 29, 2021

NEWS

US Bipartisan Group alerts of debt default

US Bipartisan Group alerts of debt default

Washington, Sep 24 (Prensa Latina) The US Bipartisan Policy Center alerted that on the payment of the debt could cause catastrophic damage to the country.
Share on facebook
Share on twitter
Share on whatsapp
Share on telegram
Share on email

A report of the BPC was published on the The Hill newspaper predicting that the United States is on its way to defaulting on its national debt sometime between October 15th and November 4th if the Congress is unable to raise the ‘roof’.

The new projections of the BPC reduced the window when Washington will likely reach the ‘date x’, when the Treasury Department will run out of cash to honor the country’s obligations, according to the paper.

The United States has never failed to pay its debt, and experts say that not doing it may cause catastrophic damage.

‘Is is uncertain what the Treasure would do in this situation. We have never gone through that. (…) What we do know is that risks would be significant and the costs potentially high’, said Shai Akabas, director of Economic Policy for the BPC, as quoted by the newspaper.

In the words of Akabas, if the Treasury cannot borrow any more money after running out of extraordinary measures, it would have to resort to a series of very risky options, potentially ineffective to soften the blow.

pgh/llp/jcm/lb

RELATED
ÚLTIMO MINUTO
name of Prensa Latina

| Text SMS to 8100 with content PL
Receive 4 mesages x 25 cup

© 2016-2021 Prensa Latina
Latin American News Agency

Radio – Publications  – Videos – News by the minute.
All Rigts Reserved.

St. E No 454 , Vedado,  Habana, Cuba.
Phones: (+53) 7 838 3496, (+53) 7 838 3497, (+53) 7 838 3498, (+53) 7 838 3499
Prensa Latina © 2021 .

Web Site developed by IT Division  Prensa Latina.