[REGNUM] The US government has made progress in solving the problem of the national debt ceiling, but a real solution has not yet been found. This was stated on May 13 by American leader Joe Biden , whose words are quoted by the White House press pool.
It is reported that Biden commented on the negotiations between the authorities and Congress at the Andrews Air Force Base (Maryland), located near Washington.
"They're moving forward," the American leader said, pointing to "real discussion." At the same time, the president added that an agreement had not yet been reached.
The head of the White House did not specify what day the meeting with congressmen is scheduled for.
The debt ceiling was established in the United States by law and enacted by Congress in 1917, it allows the US Treasury to issue new government bonds to finance government activities after reaching a certain level of public debt or a certain date.
Earlier , REGNUM reported that the US Treasury Department may lose the ability to fully service the US public debt by June 1 if the US Congress does not expand borrowing limits.
| ...or they could, theoretically at least, significantly decrease spending — but I realize that’s crazy talk. |