US public debt reached ceiling

The US Ministry of Finance has reached the Congress of the Ceiling Congress and encouraged him to raise him again, said Janet Yellen Finance Minister. It is reported by RIA Novosti.

The head of the department appealed to the leadership of the Congress with a letter, stating that the Ministry of Finance began to “extraordinary” measures for temporary borrowing in the absence of a legislatively approved new limit on public debt.

According to her, the period of action of extraordinary measures this year may mean an increased uncertainty, which is associated with the economic influence of the coronavirus pandemic. “At all respect, I urge Congress to protect the pledge of complete support and the United States loan and take action as soon as possible,” the text text is noted.

Earlier in the United States, a two-year agreement was completed on the suspension of the Limit of the public debt. This means that its limit value began to act again. According to Bloomberg, by the end of June, aggregate debt almost reached 28.5 trillion dollars – 22 trillion plus accumulated debts from August 2019. If Congress does not solve the suspension of the limit or increase it, the Ministry of Finance will have to go for emergency measures.

US authorities face a similar situation since the 1980s. In some cases, the federal government, with the exception of individual departments, had to suspend work until an agreement was to reach an agreement between the two parties. Only over the past ten years it happened three times.

/Media reports.