Joe Biden assured that without a deal with the Republicans, the United States could default

The president warned that “does not want to believe that this will be the result, because the consequences would be too seriousHe added: “Defaulting on our debt obligations would be a self-inflicted injury that would take our economy to a cliff. “

The US Treasury Department has claimed that if the debt ceiling is not suspended or raised by October 18, the country could face an unprecedented suspension of payments on its sovereign debt. But the leaders of the Republican Party, Akin to fiscal discipline, they oppose the suspension of the debt ceiling and Democrats need ten votes to pass the measure in the Senate.

“They are threatening to use their power to stop us from doing our job of saving the economy from a catastrophic event. I think that’s downright hypocritical, dangerous and unfortunate,” Biden said. “They must stop playing Russian roulette with the US economy“he added.

The president warned that a suspension of payments “would threaten the dollar’s status as the reserve currency on which the world depends” in addition to raising “interest rates on mortgages, car loans or credit cards. “.

Finally, he said he would stay in touch with McConnell and continue negotiations to approve a debt ceiling suspension measure this week.

Before Biden’s statements, Mitch mcconell said the president should pressure the Democratic leaders in Congress to go ahead and raise the debt limit themselves because the Republican Party will not cooperate. Budget experts say the process would take at least two weeks, but Biden hasn’t ruled it out.