Uncertainties in the United States, which is reaching its debt ceiling

The headquarters of the US Treasury Department, in Washington, January 18, 2023. AP - Jon Elswick

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1 min

The United States can no longer borrow money since Thursday, January 19, 2023. The debt ceiling set by Congress was reached today.

The Treasury still has the means to pay its bills, but it has to engage in some financial gymnastics to do so.

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With our correspondent in Washington,

The Treasury calls this extraordinary measures.

That is to say if it is both unusual and alarming.

This means going to dip into certain budgets to supply others and thus honor the bills of the American State.

But it won't last forever.

According to estimates, this could last until spring, at most until June.

Beyond that, it will be the default of payment.

Given the status of the country, the world's leading economic power, which issues the reference currency, this would be potentially catastrophic.

For him, but also for others, with a possible generalized collapse of the markets and a major economic crisis.

Before that, there is still time for Congress to once again raise the debt ceiling.

That is, to allow the country to borrow again.

The White House stresses that this is usually done unconditionally.

However, the new Republican majority in the House of Representatives, and the other Republicans in Congress, want to take advantage of this to push through budget cuts.

However, this is out of the question for Joe Biden, who has already warned that he would veto any reduction in social benefits.

The political showdown is underway, and it will last several weeks.

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• United States

• Joe Biden

• finance

• Economy