China News Service, January 20 (CNN) reported that on the 19th local time, the U.S. federal government hit the debt ceiling, and the U.S. Treasury Department began to take special measures to avoid debt default.
U.S. Treasury Secretary Yellen wrote to Congress again, stating that the Treasury Department will initiate a "suspended bond issuance period" from January 19 to June 5, during which it will suspend injections into the Civil Service Retirement and Disability Fund and the Postal Retirees Health Benefit Fund. new funds.
The move is intended to continue funding federal government operations for the time being.
Data map: U.S. dollars.
In fact, the U.S. Treasury Department issued a warning a week ago, calling on Congress to take timely action to prevent the U.S. from defaulting.
However, CNN stated that this warning has so far failed to arouse bipartisan discussions. Instead, Democrats and Republicans have repeatedly reiterated their tough positions in the past week.
On the Republican side, House Speaker McCarthy has repeatedly stated that the budget should be reduced instead of just raising the debt ceiling.
Andy Biggs, a far-right Republican, wrote on social media, "We can't raise the debt ceiling. The Democrats are carelessly spending our taxpayers' money and devaluing our currency. They've already made their bed. So they have to lie on it."
The White House blasted Andy Biggs for his "appalling and unacceptable stance" and again rejected calls for spending cuts to be part of the debt-ceiling deal.
The White House has repeatedly reiterated that there will be no concessions or negotiations on raising the debt ceiling.
White House press secretary Karina Jean-Pierre said, "This is not a political game and should be played without conditions."
National Economic Council Director Diess has also repeatedly called on Congress to meet America's obligations by raising the debt ceiling, warning that failure to do so could lead to "economic chaos."