The clock is ticking for Democrats and Republicans to reach a deal by 1 June to ensure the US government can continue to borrow money and pay its bills – otherwise it could be catastrophic for the global economy.
——-
Watch more of our explainer series here –
Get more news at our site –
Follow us:
Facebook –
Twitter –
TikTok –
Instagram –
source
19 Comments
I don't live in America but I'm still scared
government slaves*
They’ll be fine I promise
Comments good
What does that mean for us I don't understand I don't get ssi so how does it effect everyone else?
Should’ve made money in other ways. 😔 dang.
They should pay their debts. The constant raising of borrowing won't show them any urgency. Our country has taxed us to death, but I understand to a certain degree why it's been done.
Hooray for the Democrats!
Let's be clear…The Republican party has no interest in cutting spending. They just want to embarrass Biden, and are willing to damage the world economy to do it. This is a problem that happens during EVERY presidency, but it is only an issue when Democrats are President
The Treasury has less than one huge bank bailout left, then it's game over. It will be gone by June 1st anyway, so don't wait for the banks to fail.
Who are they borrowing from? Still China?
Explain why a debt limit affects ones ability to pay ones debts. They need to borrow more in order to make repayments? I would think that would be the most important thing to mention when reporting on this.
If they default our pensions and investments are gone.
Default I dare you.
Waste so much on wars that you can’t “afford” to pay for basic services, that’s Reagan for you
Cut spending? More insanity from racist republikkkans. The US has a job to do, and Ukraine is more important that domestic racists that wear MAGA hats.
Democrats dont want to stop spending because they need to buy the people's votes. 😊
America is falling
Stop. Giving. Panic to the Elderly.
No government
No President
No other political leader
Will. Touch. Your. Social Security.
Social Security is your money
Is. There for you.
They will cut their salaries to half
They will stop the wars
They will stop the money
To the criminal physicians
And nurses that perform
Abortions.
The service for the less privileged
Is there.
Fake news projection of their twisted
Minds.