As the US federal government debt reaches the legal limit, the US government has entered into special measures.

The White House and the opposition Republican Party are fighting over the debt ceiling, and there are concerns that it may lead to global economic chaos.

Seung-mo Nam is a correspondent in Washington.


U.S. Treasury Secretary Yellen said in a letter to Congress that he would be taking special measures to avoid the risk of default.

This is because the federal government debt has reached the statutory limit of 31.3 trillion dollars and our money of 3 trillion 8 trillion won.

A special measure is a fiscal instrument that reduces certain business expenditures to keep the government from defaulting.

The White House has urged Congress to raise the debt ceiling unconditionally, saying that raising the debt ceiling has nothing to do with the budget deficit.

[Brian Dis/US President of the White House National Economic Committee: We can continue to talk about all the ways to deal with economic issues.

However, raising the debt ceiling is unacceptable.

We can't play games on this issue.]

However, the Republican Party, which took control of the House, demanded a deal with the government, saying that cutting unnecessary government spending should come first.

[Kevin McCarthy / Speaker of the House of Representatives (Republican Party): If you gave a child a credit card, he said he used it to the limit and raised the limit and raised it again...

Would you like to continue doing so?

Or would you change the child's behavior?]

As a special measure, it was possible to avoid default on debt until June, but the problem is that it is not easy to find a point of contact between the White House, which cannot reduce fiscal spending ahead of the re-election challenge, and the Republican Party, which was eager to tinker with the Biden government.

In particular, there are concerns that if the turmoil is prolonged, it may adversely affect the global economy, which is already raising concerns about a recession by increasing uncertainty in the world economy.

(Video coverage: Park Eun-ha)