“If America were to default, nearly eight million Americans would lose their jobs and the US would slide into a recession. It’s not an option.”
So US President Joe Biden in a tweet posted before leaving for Japan for the G7 in Hiroshima. To facilitate the resolution of the crisis, the number one in the White House has cut the travel plan, in order to return to Washington earlier and seek an agreement with the Republicans that avert the worst-case scenario.
Without an increase in the debt ceiling, as recalled by Treasury Secretary Janet Yellen, the United States could default on June 1, unleashing an “unprecedented economic and financial storm”.
Yesterday Biden met with the Speaker of the House Kevin McCarthy, but the agreement between the parties remains distant.