Former President Donald Trump on Wednesday urged Republican lawmakers to default on US debt unless there are “massive” budget cuts.
“Democrats will give in”
Democrats and Republicans are locked in a fight to raise the US debt ceiling, a legislative move necessary to keep the world’s largest economy paying its bills, its officials and its creditors.
Donald Trump estimated that default would still likely be avoided, predicting that Democrats would “give in” on the file.
However, his Democratic successor, Joe Biden, has ruled out negotiating budget cuts for now, accusing Republicans in Congress of holding the economy “hostage.”
Without a vote in Congress, the United States could find itself in default this summer. According to the White House, this situation would have catastrophic consequences for employment and growth in the country, in addition to destabilizing global finances.
Source: BFM TV
