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Tuesday, July 1, 2025

Reshaping Perspectives and Catalyzing Diplomatic Evolution

US administration and Republicans agree on plan to raise national debt ceiling

US administration officials and Republicans in Congress are exchanging draft documents that could form the basis of a legislative initiative to prevent default in the country. This was reported by the Politico newspaper.

We note that “until late Friday evening, the parties sent each other draft versions” of the texts of the project to level the risk of a default in payment in the country. The publication called it a sign that bipartisan agreements could be reached in the near future.

According to House Financial Services Committee Chairman Patrick McHenry, who is a Republican from the state of North Carolina and a participant in the consultations on the project, the parties need to agree on several issues related to the text of the documents. He added that “serious difficulties lie ahead” and that it is not yet possible to express confidence as to how long it will take to reach final agreements. At the same time, according to information available to the publication, the parties hope that the decision will be made by the end of the week.

Previously, the official representative of the Russian Foreign Ministry, Maria Zakharova, compared the situation of the US public debt with the “kingdom of twisted mirrors”. According to her, Washington recognizes that the default is a political and not an economic indicator, since the United States spends more than it earns, it provides all the banquet thanks to the presence of a printing press and military bases in the world.

In the interest of negotiations on raising the national debt ceiling, Joe Biden had to cut short his trip to Asia, as well as abandon the summit in Australia. At the same time, he gave no guarantee that there would be no fault in the United States.

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