The Official Website of the White House released news on October 4 that President Biden could not guarantee that the United States would not default on its debts, and the decision was in the hands of Republicans. The country's time frame is October 18, and on this day, if it can't borrow more money, it can't pay the principal and interest, and the United States will default on its first debt for the first time in history. The credibility of the us dollar is a small thing, and the foreign exchange reserves of various countries must be adjusted.
Relatively Chinese of living within their means, Americans are accustomed to eating grain. If you don't have the wealth to meet the expenses, and if you want to do things, you have to borrow money to spend it to ensure the repayment of the principal and the ability to pay interest. The cash reserves are not enough, one is to print the tickets, and the other is to continue to borrow. The United States is a state of the rule of law and has a statutory debt ceiling. The more money you borrow, the more you have to refresh the debt ceiling. The debt ceiling, which was supposed to be the last barrier to the health of the U.S. economy, was a common occurrence. Since 1960, the United States has suspended or raised its debt ceiling 80 times...
U.S. Treasury Secretary Janet Yellen's last position was Chairman of the Federal Reserve
The United States is now the world's largest indebted country (in second place is Japan). Theoretically, there is a strong enough economic reserve to eat grain. But this debt, one should be reasonable, and the other should be within a safe range. The United States is militaristic, indiscriminate welfare, and the dollar is inflated, which makes the debt vicious and develops, entering a dead circle of more and more borrowing.
After 2000, the gap between the rich and the poor in the United States was added, the war on terror dragged the economy back, and the debt grew rapidly, and in 2013, the size of the debt exceeded GDP (annual gross national product) for the first time. That is to say, if all Americans do not eat or drink for a year, it is not enough to pay off their debts. Since then, the debt has continued to expand, and the global epidemic in early 2020, the US government is again an economic stimulus program and a per capita welfare, and the size of the national debt has exploded to reach a new ceiling of $28 trillion. The current debt is now more than 130% of US GDP in 2020.
This is a difficult thing to understand: the most powerful countries in the world rely on borrowing money to survive.
Biden said he could not guarantee that the U.S. would not default on its debts, depending on Senate Republican leader Mitch McConnell. The concept is that the United States now wants not to default, and the only way out is to continue to borrow money, that is, to break through 28 trillion. Changes to the debt ceiling are subject to the approval of the legislature. Rarely, the United States now has a consistent government and a democratic party control of the White House and Congress. But this control, in the Senate is a weak control, counting Vice President Harris's one vote, the Democratic Party only holds 51 votes, and the new debt plan needs to reach 60 votes without Harris voting, and 10 Republicans need to take a stand.
Senate Minority Leader McConnell, 80 years old. The United States has entered the politics of universal senileity.
Whether it is a party struggle or a bureaucratic procedure, the core problem of US debt is borrowing money. A country cannot embark on healthy development and only rely on borrowing money to make a living... After the end of the Cold War, the social conditions in the United States were exposed, and the social contradictions that were covered up appeared. Reagan, Bush Sr., Clinton, George W. Bush, Obama, Trump, Biden, 6 presidents, have not solved the core problem of American development. The elder Bush is a war maniac, Obama is a cannonball, Trump is a madman, Biden is an old bureaucrat, these people can not afford the heavy responsibility of social reform and even revolution. The only clinton, who has both good political understanding and practical ability, is also unable to repair his lower body, trapped in a zipper door, and is made gray-headed and has no intention of government affairs...
The failure to fight the epidemic / withdraw from Afghanistan, two things show that the current president Biden, not only does not have the ambition to steer the reforms, the 78-year-old politician can not even do the specific day-to-day management. The default of the US debt is just a small rip-off, and no one knows where the United States is going tomorrow. This is a rogue state, and what about the real default.
(End of full text)
Up to now, there are still a group of American fans who cannot accept the chaotic withdrawal of troops from Afghanistan is a real thing.