Biden administration officials and a group of Republican House members held talks via videoconferencing today., on the issue of avoiding an impending default. Recall, what 1 June ends the budgetary capacity of the US Treasury to service its debt and fulfill social obligations. That is why the administration, and Congress are in a hurry to agree on a consolidated decision on raising the national debt ceiling, traditional for the American economy. Recall, that today this ceiling has already been exceeded, and the debt itself reached the mark of 31,8 trillion dollars.
According to the American press, White House and Republicans 'closer to reaching deal'.
House Finance Committee Chairman Patrick McHenry:
Despite this, still not sure, that a compromise can be reached. Despite the apparent closeness of progress in the negotiations, remain the most intractable questions and problems. We need to either look for common ground, or go the other way. At the same time, US Deputy Secretary of the Treasury Wally Adeyemo believes, that “a deal to raise the US national debt ceiling is close”:
We all understand, deal needed, because default is unacceptable for the US. The president also thinks so. And the head of the IMF, Kristallina Georgieva, said, what if the US does not raise the national debt ceiling to 1 June, then “they will find themselves in uncharted economic territory and will face the need to radically cut the expenditure side of the budget”.
I.e, message is the same: we will continue to collect debts, increase spending, and pay those debts, repaying the amount of debt "cannot be, because it is uncharted economic territory for the US.”.
