Biden warns: the whole world will be in trouble

US President Biden, on the show he attended in New York, said world leaders are curious about the risk of US default. “Because if we don’t comply, the whole world is going to be in trouble,” Biden said. saying.

Describing the debt ceiling crisis as a “manufactured crisis,” Biden said the United States is the strongest economy in the world and can certainly pay the “bills.”

“We must cut spending responsibly and reduce the deficit without an unnecessary crisis,” Biden said. he used the phrase.

Biden warned of the potential consequences of default, which could result in higher interest rates for credit cards, car loans and mortgages, late social security payments and job losses.

“Our economy enters a recession and our international reputation is severely damaged,” Biden said. he performed the assessment of it.

WHAT HAPPENED?

With the US federal government less than a month away from running out of money by hitting the $31.4 trillion debt limit, President Biden was invited by US House Speaker Kevin McCarthy , House Minority Leader Hakeem Jeffries, Senate Majority Leader Chuck Schumer and the House of Representatives to discuss the debt limit issue Yesterday he met with Senate Minority Leader Mitch McConnell.

Biden, in the press conference held after the meeting, stated that the meeting was “productive” and that they would meet again on Friday. (AA)