US President Joe Biden signed a law that enhances the Country Country Ceiling for 2.5 trillion dollars – up to 31.4 trillion dollars. This is reported by CNBC.
Thus, Biden prevented the potential default of the country according to the public debt, the TV channel notes. It is expected that an increase in the debt limit will allow the American government to cover its obligations until 2023.
Earlier, US Finance Minister Janet Yellen called on Congress to increase or freeze the limit of public debt by December 15. Otherwise, according to her, there may be a shortage of funds necessary to finance the work of the federal government. Yelevlen also warned that default could lead to recession and loss of jobs across the country.
/Media reports.