Eleven Republicans contributed to the Senet vot last Thursday in saving the United States of America temporarily from a catastrophic crisis that would have hit the American and global economy by contributing to the enactment of legislation to increase the US debt ceiling by 480 billion dollars, bringing the number of voters to 60, which is the number that the Senate needs to pass New bill.

The approval of the Senate on the bill is the most important, given that the Democrats control the House of Representatives, and therefore the bill is not expected to face any consequences when it is presented to a vote next Tuesday in the House of Representatives before it is passed to US President Joe Biden for approval and publication as an effective law.

This solution, even if it is temporary, and Congress needs to find a long-term solution before the fourth of December, but it spared global markets a disaster that US Treasury Secretary Janet Yellen warned of more than once, as the US debt ceiling is expected to reach the limit of 28.4 trillion dollars in the 18th From this October.

Senate Majority Leader Chuck Schumer attacked Republicans in his speech last Thursday and stated that Republicans played a dangerous game that would plunge the American economy into disaster. Senate Minority Leader Mitch McConnell responded with a message to US President Joe Biden that Republicans would not help him raise the debt ceiling again.

In December, because of Schumer’s speech, and that the Democrats should find a solution of their own without his help, in order to raise the tension in Congress and the White House. Therefore, avoiding the catastrophic markets temporarily is the ideal address, given that the disaster has only been postponed for three months, and the return to the same situation will take place, and thus the renewal of events.

The US debt ceiling, although it has been raised more than 70 times since 1962, has become used for political purposes and the threat to close the government. Will the mechanism for working with the US debt ceiling be suspended, as happened more than once, most recently in 2019, and the debt limit is exceeded with the powers of the US Treasury Secretary, or will the markets live a potential disaster? After three months, there is no solution that satisfies both parties.

The effect of not raising or suspending the ceiling of the US yen means the United States of America defaulting on its debt is, as we mentioned in our previous report, here the markets are waiting for the Senate to vote on a temporary law preventing the disruption of the federal government – Fayezalajmi-4x.com something that has not happened before And it will be catastrophic for global markets, especially the government bond market, and we will witness a rise in interest rates, a decline in global stock markets, a rise in the US dollar, and a decline in cryptocurrencies. The stock market loses a third of its value.