The US could default in a year, Photo: File
Washington: The United States is facing the fear of default at the end of the first 4 months of this year, to avoid which the Joe Biden government is showing its intention to borrow another 726 billion dollars.
According to the world news organization, the faltering American economy was facing many challenges since the beginning of this year due to the back-breaking economic restrictions of Corona and the dead commercial activities.
The budget deficit of the US government, which is reducing the blocker spending to return its troops to Afghanistan, Syria and other countries, is increasing and there is a fear of the US defaulting in the first 4 months of the year.
According to the American media, to deal with this disturbing situation, President Joe Biden has called a meeting of the members of Congress on May 9 to formulate a new strategy. In which a possible debt of 726 billion dollars will be discussed.
US Treasury Secretary Janet Yellen has warned that a default could occur within a month to avoid immediate legislation for a $31.4 trillion loan.
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