Raising the US debt ceiling cannot guarantee to save the country’s economy from devastating consequences. About this newspaper “Izvestia” declaration Vasily Koltashov, Head of the Center for Political Economic Studies.
“Undoubtedly, increasing government debt in the United States is the only way the American elite can now offer even to contain destructive processes. Even to improve the situation in some regions,” Koltashov said.
According to him, with the next increase in the debt ceiling in the United States, the principle of “drug addiction” that is destroying the US economy will continue to operate. For example, in the background of the banking crisis, commercial investment in real estate has already collapsed by 50% in 2023.
He added that the decline in property prices in the country will continue, which is already a sad sign for the American economy. All this speaks of the disruption and “deep disease” of economic processes.
June 3 US President Joe Biden declarationHe said the situation with the public debt had been resolved and thus a collapse was averted. Biden noted that the crisis was averted thanks to a bill to raise the national debt ceiling in the country, but “the risk is higher than ever”.