14 March | Dollar

Trump and Senate Republicans haven't settled on solution to US debt ceiling problem

Trump and Senate Republicans haven't settled on solution to US debt ceiling problem

US President Donald Trump and representatives of the Republican Party in the Senate are still working to find a solution to the problem of the US national debt approaching the legally mandated limit. 

On Thursday, several senators, including Majority Leader John Thune and Finance Committee Chairman Mike Crapo, debated the advisability of raising the national debt ceiling as part of this year's fiscal and budget measures. Most analysts cited by Bloomberg believe that the United States is on track to default on its payment obligations sometime this summer if the ceiling remains unchanged. However, no decision has been made, Thune said.

The House of Representatives has decided to raise the debt ceiling as part of its tax proposal using a mechanism that would require support only from Republicans. But Thune expressed his desire to address the national debt ceiling as a separate issue and with the official support of Democrats.

Elena Berseneva MarketCheese
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