Biden admits the possibility of a short-term increase in the US national debt ceiling
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US President Joe Biden, summing up the results of negotiations with congressional leaders, admitted that a short-term increase in the national debt ceiling could occur in the country in order to prevent a default from occurring.
According to the American leader, a default is too big a risk, as it will bring devastating consequences for the American economy.
“I don’t know what … Speaker McCarthy is thinking … And I think he knows that the default will be devastating,” Biden said.
We will remind, earlier US Treasury Secretary Janet Yellen said that the country expects a default if the national debt ceiling is not raised.
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