The United States has a month left to resolve the situation with the state tax

The United States has a month before reaching the debt ceiling, Treasury Secretary Janet Yellen warned. On May 1, she sent a corresponding letter to Speaker of the House of Representatives Kevin McCarthy. It states that “by the beginning of June, and possibly even by June 1,” the agency will not be able to continue to meet all government obligations unless Congress increases or suspends the public debt threshold by that time. A national default will have negative consequences not only for the US itself, but for the entire global economy. So far, Democrats and Republicans in Congress and the administration have failed to resolve the issue. Joe Biden agreed for the first time since January to discuss ways out of the crisis with Congressional leaders. The meeting is scheduled for May 9th.

Recall that the last time the US national debt reached the legal ceiling in January 2023. In total, since 1960, the US Congress has revised the parameter 78 times. Read more about the situation with the US public debt in publications “Kommersant” “At the call of American debt.”