(Original title: US Senate passes debt ceiling bill)
Financial Associated Press, June 2, the US Senate voted to pass the debt ceiling bill. According to legislative procedure, the bill will come into effect after President Biden signs it.
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US lawmaker: Supporting raising the $4 trillion debt ceiling is an “insult to Americans”
“This is an insult to Americans.” According to Fox News, Matt Rosendale, a Republican congressman from Montana, said on the 28th when referring to the “Fiscal Responsibility Act”. The “Fiscal Responsibility Act” in its mouth is an agreement “in principle” reached between Biden and Speaker of the House McCarthy to solve the US debt crisis. Rosendale also derided the deal as the “Fiscal Irresponsibility Act.” He said lawmakers who support the “Irresponsible Financial Act” are insulting Americans because the deal does not control federal spending.
US Congressman
According to previous media reports, Biden and McCarthy announced on the 27th local time that they had reached a preliminary agreement on the federal government’s debt ceiling and budget. Biden promised to cut $50 billion in government spending in exchange for raising the debt ceiling. . trillion debt ceiling for two years to avoid any further impasse before the 2024 US presidential election.
According to Fox News, Rosendale issued a statement on the evening of the 28th, saying, “Washington is busy dealing with the largest debt ceiling raising (plan) in our country’s history, adding 40,000 yuan to the current US$31 trillion national debt . A billion dollars.” Rosendale said, “The ‘Fiscal Irresponsibility Act’ cannot cut spending and will continue to fund the radical agenda of the Democrats and the Biden administration. “
“Frankly, it is an insult to Americans to support a deal that jeopardizes our nation’s fiscal future. The people of Montana did not elect me to come to Washington to support these normal things. That’s why I voted against the Fiscal Irresponsibility Act,” Rosendale said.
The report noted that Rosendale was the first House Republican to publicly state that he would vote against the Fiscal Responsibility Act. Republican Representative Lauren Boybert of Colorado also expressed displeasure with the agreement. The House of Representatives will vote on the debt limit agreement on the 31st local time. US Treasury Secretary Janet Yellen has said that June 5 is the date that the US may not be able to meet its debt obligations.
The debt ceiling is the maximum debt set by the US Congress for the federal government to meet payment obligations incurred. Hitting this “red line” means that the borrowing authority of the US Treasury Department has ended. The US government reached the debt ceiling of $31.4 trillion in January this year, and the Treasury Department immediately took “unconventional measures” to avoid a debt default, but the money raised by these temporary measures is about to expire. Before the debt ceiling became “under threat”, according to statistics from the relevant departments of the US Congress, Congress has adjusted the debt ceiling 102 times since the end of World War II. In recent years, the battle between the two sides has intensified, and the debt ceiling negotiations have been constantly fraying, causing market turmoil and government shutdowns and other chaos. On the evening of May 28, US President Joe Biden told the media that he had reached a final agreement with Republican Speaker of the House McCarthy on raising the federal government’s debt ceiling and was submitting the agreement to both houses. r Congress for voting.
Source of this article: Finance Association responsible editor: Zhang Zhongquan_NB17813
