US leader Joe Biden has said that a possible default by his country will cause problems for the whole world.
“If we don’t pay our debt, the whole world is in trouble,” Biden said.
He also noted that the current crisis was created by Republicans because the United States is able to pay its debts. However, if he fails, America’s reputation in the world will suffer enormous damage.
US President Joe Biden met with congressional leaders on May 9 in the Oval Office of the White House. During it, the issue of raising the US national debt ceiling was discussed, but no progress was made by the parties in this regard, said House of Representatives Speaker Kevin McCarthy.
In early May, US Treasury Secretary Janet Yellen warned of the risk of exhaustion of the country’s emergency measures due to the reaching of the public debt ceiling.
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