2023-05-30 00:36:28
The American state bankruptcy seems to have been averted for the time being, the debt is likely to increase in the next two years with limited growth in spending. That may be reassuring, but will not save the nation from the fiscal abyss in the long term.
President Joe Biden and House Speaker Kevin McCarthy reach agreement on debt late at night.
When it comes to getting into debt, the pro-spending Democrats and the supposedly conservative Republicans agree in America. So who will be surprised that on Pentecost Saturday they did agree to a compromise on raising the US state’s debt ceiling? The money threatened to run out in the next few days because the previous requirement of Congress had capped public liabilities at a good 31 trillion dollars.
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