US debt is in increase, no matter who is in the White House

The United States has seen three Republican and three Democratic administrations since the 1980s, but no matter who is in the White House, American debt has steadily increased over the years, even expanding the debt ceiling in the process.

Currently, Congress is being asked again to increase the debt ceiling a country can bear or at least temporarily suspend the debt ceiling mechanism, which states that the Treasury cannot borrow beyond a certain limit unless expressly authorized by lawmakers.

This is because the previous suspension expired on July 31, bringing the debt ceiling to $ 28.5 trillion in fact, the amount of government debt. in that moment. Treasury Secretary Janet Yellen said that under the current circumstances, her department will run out of money in October.

Although Democrats and Republicans expand the debt in equal measure as they are in charge, the necessary raising of the debt ceiling routinely provokes a good part of the debate, which often extends to the last minute of the country’s solvency.

While Democrats have proposed another temporary suspension of the limit, Republicans have said the party would not have the support of the GOP. in tale vote. Republicans are blocking these efforts to protest the current plan budget $ 3.5 trillion from the administration, as Democrats point the finger at the Trump-era tax cuts that contributed to the need for new debt.

In early 2018 and again in late 2018 and early 2019, the debt ceiling dispute has not been resolved in time, leading to two government arrests.

Disagreements over DACA and the border wall also have in much closed federal government agencies for three and 35 days, respectively, as Democrats rejected attempts to expand the debt limit.

And in 2013, the government shut down for 16 days because it was Republicans who didn’t want to support one tale measure why the money would go towards the Affordable Care Act.

America’s debt

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