Trump wants to abolish debt limit – Diepresse.com
« In order to prevent an economic catastrophe, » the debt limit is to be abolished, the US president demands and thus goes in accordance with a democratic senator.
US President Donald Trump is in favor of abolishing the state debt limit. He agreed with the view of the democratic senator Elizabeth Warren on this topic. “The debt limit should be fully abolished to prevent an economic catastrophe, the Republican wrote in a contribution on the online platform Truth Social on Wednesday.
She was too devastating to put her in the hands of politicians, « despite the devastating effects she might have on our country, » said Trump.
Again and again threaten defaults
US Finance Minister Scott Bessent had already warned of a loss of payment in the summer in mid-May. The Federal Government could assume the money in August, Bessent wrote in a letter to the chairman of the House of Representatives, Mike Johnson. During this time, the US parliament is usually during the summer break. Bessent therefore called on the congress to act until mid -July at the latest in order to either suspend or increase the debt limit of the United States.
Earlier experiences have shown that delaying out of serious consequences for the financial markets, the economy and the trust of companies and consumers could have until the last minute, the minister wrote. In the United States, the congress determines a debt limit at irregular intervals and determines how much money the state can borrow. The United States currently has a debt of around $ 36 trillion (around 31.9 trillion euros). (APA/Reuters)
