[International Finance News]The White House: Biden Signs the Bill to Raise the Debt Cap to Avoid US Default

The US “Capitol Hill” reported that US President Biden signed a bill to raise the debt ceiling on the 14th to prevent the United States from defaulting on debt for at least one month. The White House stated in a statement on the 14th that Biden signed a bill to increase the government’s ability to borrow by $480 billion, making it into law. According to US media, this move can prevent the government from defaulting immediately, but will face disputes over debt and spending again in less than two months. US government officials previously warned that if the debt ceiling cannot be raised by October 18, the United States will default, which may plunge the US economy into recession again. The U.S. House of Representatives passed a bill to raise the federal government’s debt ceiling with 219 votes in favor and 206 votes against on the 12th. Senate Minority Leader McConnell said that if the federal government is to raise the debt ceiling again in December, the Republican Party will not cooperate.

(Source: International Derivatives Think Tank)

Article source: International Derivatives Think Tank

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Original Title:[International Finance News]The White House: Biden Signs the Bill to Raise the Debt Cap to Avoid US Default