The situation around raising the US national debt ceiling does not cause concern in the White House, said on Friday, May 19, Assistant to the President for National Security Jake Sullivan.
“The US debt ceiling is definitely of interest at the G7 summit. However, the situation does not cause anxiety or any kind of nervousness,” he said during the briefing.
Sullivan also added that US President Joe Biden is confident in good results on this issue, which will not allow a default to occur in the country. Bullish play: how serious is the threat of default in the US And will Republicans and Democrats be able to solve the problem of public debt before June
On May 17, Biden said that congressional leaders understand that a default in the US should not be allowed, as the consequences would be catastrophic. He expressed confidence that he would be able to reach an agreement on raising the debt ceiling with Congress, where, according to him, they are well aware of the catastrophic nature of a possible default.
In the meantime, House Speaker Kevin McCarthy announced the next day after meeting with Biden, the White House and the US Congress are still far from an agreement to increase the public debt. However, he acknowledged that “a lot of work needs to be done in a short amount of time.” McCarthy also expressed regret that the discussion did not start earlier – 100 days ago.
Earlier, in April, the International Monetary Fund (IMF) predicted that in 2024 the level of US public debt will rise to 125.8% of GDP, in 2025 – to 129.1% of GDP. By 2028, it can reach 136.2% of GDP. At the moment, the national debt of the United States is $31.4 trillion.Share: