Debt Ceiling Politics Threaten the Power of the U.S. Dollar ...Middle East

Congress is careening once more towards a brutal fight over raising the nation’s borrowing cap, with dire economic consequences in store should the United States default on its debts. Negotiations seem to be moving at a glacial pace even as the Treasury Department has resorted to “extraordinary measures” to ensure the bills are paid for the time being. Republican lawmakers insist they will not vote to raise the debt limit without significant spending cuts, while Democrats argue that the ceiling should be lifted in a “clean” bill, without any conditions.If the U.S. fails to pay its debts, the federal government will be unable to make critical payments for programs such as Medicare, Social Sec

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Last updated : 22 February 2023 clock 05:04 PM

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Debt Ceiling Politics Threaten the Power of the U.S. Dollar ...Middle East

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