2023-05-07 21:22:00
U.S. Treasury Secretary warns of debt default early next month
‘Senate majority’ Democrats pressure Republicans who do not cooperate
Concerns regarding the negative impact on the global economy if the US defaults
‘House majority’ Republicans “cooperate if government budget cuts”
The U.S. Treasury Department has repeatedly demanded that the government debt ceiling be raised, warning of a national default, a ‘debt default’.
President Biden will soon gather the leadership of Congress and ask for unconditional cooperation, but the opposition party is strongly opposed.
Reporter Cho Yong-seong reports.
[기자]
Treasury Secretary Janet Yellen, who reduced the duration of her G7 business trip to prevent default, once once more expressed her concerns in a media interview.
He said Congress should raise the ceiling on government debt, saying the deadline is approaching early next month.
[재닛 옐런 / 미국 재무부 장관 : 이것(부채한도 상향)을 하는 것은 의회의 일입니다. 만약 그들이 하지 않는다면, 우리는 스스로 만들 경제적·재정적 재앙을 겪게 될 것입니다.]
Democrats, who hold a majority in the Senate, have also strongly pressed Republicans for not cooperating, saying that default would mean the end of Social Security.
[척 슈머 / 미국 상원 민주당 원내대표 : 공화당원들은 돌이킬 수 없고 무책임한 벼랑 끝 전술과 인질극 방식으로 부채한도와 채무불이행을 다루고 있습니다.]
Currently, the maximum amount of debt the U.S. federal government can pay is $31.38 trillion.
There are fears that a default might lead to catastrophic global economies, including stock market shocks, skyrocketing unemployment and a series of bankruptcies.
However, the Republican Party, which has a majority in the House, is refusing to cooperate with a hardline stance.
In order to raise the debt ceiling, the position is to receive government budget cuts bills passed by Republicans alone, such as repealing the climate change fund.
[미치 매코넬 / 미국 상원 공화당 원내대표 : 하원 법안을 수용하든지 아니면 하원의장이 대통령과 한동안 합의를 위해 노력해 온 논의에 들어가든지 둘 중 하나를 선택해야 합니다.]
President Biden, who will soon meet with the ruling and opposition leadership of Congress, draws a line saying that there is no negotiation on the debt ceiling issue,
Attention is focusing on whether an agreement can be reached before the overseas tour schedule, which is less than 10 days away.
This is YTN Cho Yong-seong.
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