US President Joe Biden believes his aides and Republicans in Congress are very close to an agreement on raising the national debt ceiling to prevent the US from defaulting. It has been reported TASS.
“As for the debt ceiling, everything seems fine. “I hope we’ll know by midnight if we can reach an agreement,” Biden said.
He added that a deal is “very close”.
Kevin McCarthy, Former Speaker of the U.S. House of Representatives declarationthat the interest paid on the country’s public debt over the next 10 years will be comparable to payments made in the last 83 years.
Prior to that, US Treasury Secretary Janet Yellen said the country could default on June 5th of this year, not the first.
According to that,
During the week of June 5, the U.S. Treasury will make approximately $92 billion in payments and transfers, including approximately $36 billion in quarterly adjustments to social security trust funds.