The US Congress must approve a further increase in the country’s public debt ceiling or suspend the limit. The call was made by the United States Treasury Secretary Janet Yellen in a letter to a number of influential American lawmakers. Her words leads TASS…
She noted that the $ 480 billion increase in the borrowing limit approved last week allows the Treasury Department to continue funding the work of the federal government until December 3, 2021. She called it a “temporary respite”, and before that moment, her department will be forced to “take certain emergency measures.”
Yellen assured that raising the national debt will be the only measure that will give long-term confidence that the US government will be able to fulfill its obligations.
On October 15, US President Joe Biden signed a bill to raise the country’s public debt ceiling by $ 480 billion. According to the decree, the limit will be increased to $ 28.9 trillion. It is expected that this amount should be enough for the US government to fully continue to fulfill its obligations until the beginning of December.
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