The White House said that the default will reset all US economic progress
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White House press secretary Karine Jean-Pierre, speaking to reporters, expressed serious concern about the consequences of a possible default in the United States.
According to her, if Congress does not raise the national debt ceiling by June 1, and a default is nevertheless announced, then this will nullify all the achievements of President Joe Biden’s administration in the economic sphere.
“This will set back all the progress that we have made over the past two years … We are talking about 12.7 million jobs, unemployment at 3.4%,” the official said, stressing that this inflation rate is the lowest throughout US history.
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