Washington (AFP)

Huge investments in "historic" infrastructure and social reforms: Joe Biden's major projects face a week of high flying in the US Congress, where the Democrats must imperatively agree if they want to approve the core of the US President's program.

Along with their frenzied internal discussions on the Biden plans, Democrats only have until midnight Thursday to find common ground with Republicans to avoid the sudden paralysis of the federal government, dubbed "shutdown." .

And behind these multiple fronts looms the threat of a financial cataclysm if Congress fails, in the coming weeks, to adopt a text to suspend the US debt ceiling.

"The next few days will be intense," admitted Democratic Speaker of the House of Representatives Nancy Pelosi.

- Biden plans -

Joe Biden said he was "optimistic" Sunday on his two historic investment projects.

On the one hand, a $ 1.2 trillion project planned to straighten out faltering American infrastructure, supported by part of the Republicans.

On the other, social reforms and investments for the fight against climate change in a plan to the colossal amount of 3.500 billion dollars, nicknamed "Build Back Better".

According to Joe Biden, this project of an amount equivalent to the GDP of Germany aims to radically transform the lives of Americans.

But these founding texts of its economic and social program still have to overcome great obstacles in Congress.

Crying "irresponsible" spending, Republicans are fiercely opposed to it.

- "Mutually insured destruction" -

The Democrats have therefore opted for a parliamentary maneuver that will allow them to bypass the blocking power of the opposition in the Senate, and adopt the social component with their own votes.

But they only have very fragile majorities in Congress, and for now, the left wing and more centrists disagree on the sheer amount of the social reform plan, with some moderate Democrats deeming it far too high.

To ensure the unwavering support of their troops, the White House and Nancy Pelosi have opted for a strategy that looks like "mutually assured destruction": the two Biden plans must move forward in concert in Congress.

The Senate approved the infrastructure plan in early August with the support of all Democrats and a third of Republicans.

Then Nancy Pelosi retained him in the House and waited all summer for negotiations to advance on the "Build Back Better" plan.

Finally, the final vote will take place on Thursday.

But some in the left wing threaten to derail this vote if they do not obtain more concrete progress on the social side and a commitment that the centrists will support.

Democratic leaders and Joe Biden are playing against the clock to reassure them by Thursday.

- Debt ceiling -

Along with this tense countdown comes another deadline: the threat that federal government services will suddenly run out of cash if Congress does not extend the budget beyond midnight September 30, the end date. of the fiscal year in the United States.

The two parties want to avoid this outcome but have not yet reached an agreement.

In the immediate future, a first budget text will fail in the Senate on Monday evening for lack of Republican support, because the Democrats have associated with it the suspension of the debt ceiling of the United States until the end of 2022.

However, Republicans categorically refuse to support such a measure, claiming that it is linked to Biden's "exorbitant" plans.

The most likely scenario at this time is for the Democrats to review their copy immediately afterwards, removing the debt suspension, which will help rally the Republicans' votes and approve a budget extension before Friday, and avoid a "shutdown".

There would then remain the big question of the debt ceiling, the amount from which the country can no longer issue new loans to finance itself.

If it is not suspended or relieved quickly, the United States will no longer be able to honor its payments from mid or late October.

Never seen.

Democrats may well be outraged by the Republicans' refusal to vote for the suspension, as is the tradition, they now seem certain that they will not be able to count on their support.

Joe Biden's party would then have to approve it with its only votes, thanks to the same parliamentary maneuver as for the social reform plan, which could take several days ... or weeks.

Something to worry about the markets.

© 2021 AFP