Colorado Springs, Colorado 2021-10-12 19:38:38 –
Washington (AP) — Congressman approved a short-term increase to the country’s debt limit.
A vote on Tuesday evening will allow the federal government to pay the bill in full until December.
The legislation then goes to President Joe Biden’s desk to sign the law.
Defaults have had a tremendous impact on global financial markets, and regular government payments to social security beneficiaries, disabled veterans, etc. would have been questioned.
However, the relief provided is only temporary and Congress will be forced to revisit the issue in December.
Republicans have promised that Democrats must uncap without their help.
House sends debt limit hike to Biden, staving off default Source link House sends debt limit hike to Biden, staving off default