2023-04-29 17:35:53
This Thursday the Secretary of the Treasury of the United States (USA), Janet Yellenwarned that his country runs the risk of suffering a “economic and financial catastrophe”.
During his presentation in the annual program «Capitol-to-Capitol»from the Sacramento Metropolitan Chamber of Commerce in California, mentioned the debt issue as one of the main causes of the crisis.
On this point, he recalled that Washington has been paying all its bills for more than 200 years and that this policy must be maintained. «Since 1789, America has paid all its bills on time. It has to stay that way.”he expressed.
He then added that if the opposite occurs and there is an impact on the debt, the “would produce a economic and financial catastrophe« in USA. He pointed out that a similar situation would lead to credits and loans increasing and that would lead to a deterioration in the credit markets.
“This economic catastrophe is preventable. The solution is simple: Congress must vote to raise or suspend the debt limit. You must do it without conditions », said. Later he added: “You shouldn’t wait until the last moment. I believe that doing so is a basic responsibility of our nation’s leaders.”.
The official warned that in the long term the loan prices they would continue to rise in perpetuity. Likewise, he specified that future investments will also be more expensive.
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