US Finance Minister urged the Congress to raise the government’s debt on December 15th.
Xinhua News Agency, Washington, November 16 (Reporter Help) US Finance Minister Yellen During the 16th, the US Congress urged the Federal Government’s debt ceiling to avoid government debt default risk.
Yellen’s letter was written to the US Congress Democracy, the Republican Party Leader, said that the President Biden’s infrastructure investment bills have taken into force, and the US Treasury needs to allocate funds to the expressway trust funds before December 15th. 118 billion US dollars. Yellen said that she has "high confidence" on the payment of the funds, but after December 15, the Ministry of Finance is not enough to fulfill the possibility of government payment obligations. To ensure that the US government’s credit is not affected, the Congress needs to increase the debt ceiling or suspend its entry into force as soon as possible. The upper limit of debt is the highest amount of the US Congress set by the federal government to fulfill its debts, and touching this "red line", which means that the US Treasury borrowing is licensed. The US Congress passed an A bill in October, temporarily targeted the government debt of approximately $ 480 billion to ensure that the US Treasury can perform payment obligations to December 3. According to recent research in the US two-party policy research center, the federal government has touched on the end of October to the upper limit of debt, and therefore the US Treasury will take unconventional measures to avoid debt default.
The agency is expected that if the US Congress does not increase its debt ceiling or suspend its effectiveness through new legislation, the federal government may have debt defaults in mid-next December.