US Treasury warned of the threat of default

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In Washington, few people are embarrassed by the more frequent statements of the US Treasury Department in recent years about the country's impending default - the impossibility of timely payment of the state debt. On July 23, the head of the US Treasury, Janet Yellen, sent another warning to the US Congress about the threat of default and the accompanying "irreparable damage" for economics countries and citizens.

The minister reminded lawmakers that the public debt ceiling is "frozen" until July 31, 2021, i.e. you can not borrow more than prescribed before that date. She clarified that if the ceiling of the national debt is not increased or the borrowing process itself does not stop, then on August 1 the level of the US national debt will reach the level set by the legislators. If legislators by this time do not take any action, for example, do not increase the borrowing threshold until the next date, then on August 2, the Ministry of Finance will begin to implement "certain additional emergency measures to prevent the US from default on obligations."



The head of the Ministry of Finance added that on October 1, a new financial year begins in the United States. If by this number the legislators do not decide on a decision, then the budgetary possibilities of the American government will be significantly undermined. Yellen pointed out that in 2011, for the first time in history, "only" because of the threat of default, the US credit rating was downgraded. She stressed that not a single head of the American state or department, no matter what political force he is, ever thought about the country's default.

In turn, the press secretary of the US President Jen Psaki called the letter of the head of the Ministry of Finance - "standard practice" before the next extension of the public debt ceiling. The White House speaker explained that before that, American lawmakers had raised and "frozen" the ceiling of the national debt about 80 times.

According to the Congressional Budget Office, the US budget deficit in fiscal 2021 will be $ 3 trillion. Currently, the volume of the US government debt exceeds $ 28,3 trillion.
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  1. Petr Vladimirovich
    Petr Vladimirovich
    +5
    24 July 2021 16: 28
    National debt of the country 28 trillion
    And this can be given, or is no one going to?
  2. 123
    123
    +5
    24 July 2021 16: 28
    What are you, what other default belay They print money. About 4 billion daily smile
    No agreement on digital dollar creation yet
    https://www.politico.com/news/2021/06/12/fed-remake-us-dollar-493548

    While they will continue to pull the bagpipes, if they can ...
    But how will they agree, who knows, maybe one fine morning some modest policeman near Moscow will learn from the morning news that he has 5 million candy wrappers hidden in his basement ... winked
    1. Petr Vladimirovich
      Petr Vladimirovich
      +1
      24 July 2021 16: 58
      All you jokes are jokes. But one fine day they will say, we are changing the bills for a new sample, I went through this with stamps. And clarify where you got it from. And where will you order the modest policemen to flee with their back-breaking labor?
      belay
      1. 123
        123
        0
        24 July 2021 18: 29
        All you jokes are jokes. But one fine day they will say, we are changing the bills for a new sample, I went through this with stamps.

        They won't give anything in return, everyone is in the iPhone on the screen ...

        And clarify where you got it from.

        This will not be a problem. Where they got it from, where they went, all the moves are recorded. Everything is on the server.
        If we are talking about unearned income, such questions will probably arise only for the exceptional, as if it is softer ... who do not understand that tax evasion is a crime. Well, they will decide to show everything themselves ... lol

        And where will you order the modest policemen to flee with their back-breaking labor?

        As I understand it, we are already talking about ours? Yes, let it go fellow , well, you understand ... Only now to run with what? With a naked ... torso? The overseas bourgeois tsiferki will draw with their own, the problems of underground millionaires in the Russian provinces do not interest them very much. All appeals to the Sportloto office, to the department for monitoring the movement of black cash and resolving conflict situations Yes
        1. Petr Vladimirovich
          Petr Vladimirovich
          -1
          24 July 2021 18: 33
          An article like about ours was
  3. Jacques sekavar
    Jacques sekavar
    -3
    24 July 2021 18: 55
    Economic growth is impossible without an increase in the money supply, a decrease in the key rate and a budget deficit, which takes place in all economically developed and developing state institutions, regardless of the social system and the PRC, an illustrative example of this.
    Today not a single state of the world is interested in the US default, and therefore the US can count on their consolidated support.
    The United States is the main shareholder of the IMF, and therefore controls not only the IMF's currency - special drawing rights, but also the IMF's gold, which in fact supplements the warehouses of Fort Knox, which creates the preconditions for the control of digital currencies, which means, like today, the whole world
    1. 123
      123
      +3
      24 July 2021 19: 28
      Economic growth is impossible without an increase in the money supply, a decrease in the key rate and a budget deficit, which takes place in all economically developed and developing state institutions, regardless of the social system and the PRC, an illustrative example of this.

      "Economically developed" countries really cannot grow without additional stimulus. They have long ago reached the limit, all growth is artificially inflated by debt and printing money. But this does not mean that you can do this indefinitely. The system is approaching its limit. Now the most "developed" are those who are in debt as in silks.
      Developing countries are distinguished by the fact that in the current global financial system they are deprived of the right to print money uncontrollably, China seems to be trying to move from group 2 to group XNUMX.

      Today not a single state of the world is interested in the US default, and therefore the US can count on their consolidated support.

      What will the consolidated support consist of? Should they throw off money or what?
      The whole world is interested in preventing a rapid collapse of the system and in gradually reducing the role of the dollar and the United States. Against this background, everyone seeks to snatch their piece from the claws of the weakening hechemon. So all the support is an encouraging pat on the shoulder and not a sincere smile, they can't count on anything more. And there are fewer and fewer opportunities to twist their arms to pull out what they need.

      The United States is the main shareholder of the IMF, and therefore controls not only the IMF's currency - special drawing rights, but also the IMF's gold, which in fact supplements the warehouses of Fort Knox, which creates the preconditions for the control of digital currencies, which means, like today, the whole world

      There are persistent rumors that, in fact, mice are walking in the basements of Fort Knox, at least not very well with an audit, and not everyone succeeds in returning the gold from there. In general, they are not particularly trying to refute these rumors. And here is a red revolutionary stump to their full face, and not control over digital currencies. What kind of fright is that? After all, not only they have a gold reserve. What other arguments are there? Impudence?
    2. Cherry
      Cherry
      +1
      25 July 2021 05: 28
      Economic growth is impossible without increasing the money supply

      And what is the US doing economically? Social assistance? It does not give profit, but only boast, what they are, the United States is humane against the background of countries that are not so arrogant that they do not allow robbing other countries - the United States borrows, pays interest, but is not going to return the body of the debt. account? Lawyers, psychologists, doctors, teachers, catering enterprises (farmers are also subsidized)? Well, there are still enterprises that produce everything for defense, which also does not give much profit, because it finances private traders from the state budget for this. Musk, for example, is getting rich at the expense of the Pentagon. And so, they have been plopped down more than once, but so far the Ministry of Finance only warns about all the structures there are independent and obey only the law that can be easily changed (The law is that rod, where you turn there and go out)) )
  4. ur.al3x
    ur.al3x
    0
    25 July 2021 07: 46
    Do they owe us a lot? Reminds of the wild 90s.
    - there is a crisis in the country, what is the salary ?!
  5. Dmitry S.
    Dmitry S.
    +1
    26 July 2021 11: 20
    Announcing the possibility of default is an annual ritual. Soon to be declared a national holiday in the United States.