United States: political standoff in Congress over debt ceiling issue
The Capitol, seat of the US Congress in Washington, August 8, 2021 (illustrative image).
MANDEL NGAN AFP
Text by: RFI Follow
1 min
Tensions are mounting in the United States Congress.
In a few days, the activities of the federal government could come to a halt if there is no political agreement on the debt ceiling.
All in a context of growing pressure on the investment plans demanded by President Biden.
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With our correspondent in Washington,
Guillaume Naudin
This is called a liar poker game.
To continue operating from October 1, the federal government needs spending authorization from Congress.
This year, with aid from the pandemic, the government has spent more than usual and it has to borrow more than usual.
Problem, the debt ceiling will be reached in mid-October.
To meet it, and avoid a major financial crisis, there needs to be a majority of 60 votes instead of 50 in the Senate.
Republican voices are therefore necessary.
Democrats argue that under Donald Trump they allowed spending that now has to be paid for.
But their Republican opponents have no intention of signing a blank check at all as Joe Biden claims trillions of dollars for his investment plans.
There, it is between Democrats that it discusses.
The progressives say they will not vote the infrastructure plan if an agreement is not found on the other plan, that for social spending, the amount of which is deemed too high by moderate Democrats.
The Speaker of the House of Representatives wants a vote on Monday.
That leaves very little time to talk about a lot of money, but not only that.
It is indeed the whole program of Joe Biden that is at stake.
►Also read: American companies urge Congress to raise the debt ceiling
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United States
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Finance