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Original title: US President Biden signed the provisional appropriations bill, government shutdown, crisis relief, debt default risk still high
On the evening of September 30th local time, just before midnight,US President Biden signed a provisional appropriation bill to extend government appropriations to December 3, avoiding the government’s inability to pay for operating expenses and suspension. In addition to providing funds for the government, the bill also includes allocations of US$28.6 billion for disaster recovery in various states, and US$6.3 billion for the resettlement of refugees in the Afghan war.
According to an Associated Press report on September 30, earlier in the day, the Senate passed the bill by 65 votes to 35, and 15 Republican senators and all 50 Democratic senators voted in favor. The House of Representatives passed the bill by a vote of 254 to 175, of which 34 Republican congressmen and all Democratic congressmen supported the bill.
“There is still a lot to do, but this bill tells us that bipartisan cooperation is possible.” Biden said on the same day, “This appropriation bill also gives us time to keep our government running. American people serve.”
The signing of the bill avoided the government’s “shutdown and shutdown” crisis, but another crisis regarding the “debt ceiling” continues.The Democrats initially hoped to include a clause to raise the debt ceiling in this government financing bill, but they gave up under strong opposition from the Republicans.
According to previous reports, U.S. Treasury Secretary Yellen warned on September 28 that if the U.S. Congress does not resolve the debt ceiling issue in time, the U.S. Treasury Department will run out of debt space on October 18, and the federal government will face the first debt in history. Default, which will cause irreparable damage, and will be accompanied by financial crises and recessions. Fed Chairman Powell also warned that the Fed’s ability to contain the effects of such incidents is limited.
Due to the spread of concerns about US debt defaults, the global financial markets have been volatile recently. As of early September, the debt of the US federal government has exceeded US$28.7 trillion.
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Editor in charge: Li Yuan
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