These are tense days U.S still struggling with the standard risk of federal accounts. O deficit reached a record figure of 31.4 billion dollars and for the US there is now a deadline, set by the Treasury Department, beyond which bankruptcy will be inevitable. Per June 1st Biden’s democratic government he will have to come to terms with the republicans, otherwise he will be broke. Meanwhile, stock markets around the world are shaking: What happens – investors ask themselves – if America defaults?
The first effects can already be seen today. The spectrum of US bankruptcy they sent European stock exchanges into a frenzy, wiping out over 227 billion in capitalization. From Frankfurt to London to Paris, continental exchanges have the minus sign in front of them. Milanso, it’s a black shirt with the Ftse Mib which loses 2.3%. As far as the United States is concerned, however, the pattern means that the government of Joe Biden will not be able to pay creditors, federal employees, veterans and retirees. An estimated eight million jobs are at risk in the United States alone.
At the White House, negotiations are ongoing between democrats AND republicans. The goal is to reach an agreement by June 1 that avoids default, but at the moment, according to House Speaker Kevin McCarthy, “the parties are still far apart” on raising the deficit ceiling. “We offered a lot of concessions,” said McCarthy, arguing, however, that the Democrats would be “swayed” by the party’s extreme current. This is the one owned by Bernie Sanders and Alexandria Ocasio Cortez.
Source: IL Tempo

John Cameron is a journalist at The Nation View specializing in world news and current events, particularly in international politics and diplomacy. With expertise in international relations, he covers a range of topics including conflicts, politics and economic trends.