in

US lawmakers seek to deactivate crisis risk due to debt ceiling

US lawmakers seek to deactivate crisis risk due to debt ceiling

The proposal would replace Washington’s current federal debt ceiling, currently set at $31.4 trillion, with a rule that would limit debt to a portion of economic output, said Rep. Brian Fitzpatrick, a prominent Republican.

Fitzpatrick, who appeared on Fox News on Sunday with Democratic Rep. Josh Gottheimer, said House Republican Speaker Kevin McCarthy will take the lead in debt ceiling negotiations with the White House.

Both he and Gottheimer were working out the details of their proposal to help avert a crisis.

“We’re just going to offer … a possible bridge construction solution,” Fitzpatrick said.

On Thursday, the government approached its legal borrowing limit.

The Treasury Department has warned that its extraordinary cash management measures could only allow the government to pay all of its bills until early June, at which point the nation could risk defaulting on its obligations, including on its debt securities. .



Source link

What do you think?

Written by Editor TLN

The game was originally released in 1991.

Fan encourages official arts of Zelda: A Link to the Past and this is how an anime of the series should be seen

The children of Fermín wash their hands in this artisan laundry, thanks to the training given by UNICEF Colombia.

A humble toilet changed the life of Fermín and his family