In September of this year, analysts already reported about a possible default, then this process was avoided.
The bipartisan think tank warned on Friday, Dec. 3, that the US government expects a default if Congress does not raise the public debt ceiling by Dec. 21.
Reuters reports.
Bipartisan Policy Center forecast based on updated official data on tax revenues and government spending. He highlights pressure on President Joe Biden's Democratic Party to find a way to raise the $ 28.9 trillion legal debt limit.
Congress leaders, most notably Senate Majority Leader Chuck Schumer and his Republican counterpart, Mitch McConnell, are exploring the possibility of linking the debt to the National Defense Authority Act (NDAA). The annual defense policy bill, which is 60 years into law, is expected to pass.
The think tank forecasts that if future tax revenues are favorable, a debt ceiling could become mandatory already on January 28.
Recall that for the first time the alleged default in the US was talked about at the end of September 2021. This was reported by the JPMorgan banking holding. Subsequently, Republicans and Democrats agreed to raise the “debt ceiling”, which avoided pre-default in the country.
