The default crept up unnoticed. Are American Senators Ready for Suicide?
If a bill to raise the national debt limit, which now stands at about $28,5 trillion, does not pass in the US Senate, the country will face a default.
The President of the United States Joe Biden stated this, a PolitNavigator correspondent reports.
“Can I guarantee that there will be no default? If I could, I would, but I can’t,” Biden said, asking Republicans to vote to raise the limit.
However, the president of the American University in Moscow, political scientist Eduard Lozansky believes that there is no reason to panic yet.
“The fight over individual items in the budget will continue for a while, but ultimately they will vote to raise the ceiling, because if America defaults, I don’t even know on what scale this tsunami can be measured. It has always been this way: there is pressure, each side is trying to push through its amendments, but in the end everyone votes for increasing the limit. And although the trust rating of Congress in the eyes of voters fluctuates around 20%, legislators have not yet reached the point of being ready to “commit suicide,” the expert told Izvestia.
At the same time, he adds that allowing the government to increase the national debt is a temporary measure that “inflates a soap bubble,” and therefore it is impossible to endlessly raise the bar, since sooner or later, if no other solution is found, such a practice will lead to collapse.
“No one can say when exactly this will happen. Probably when the dollar ceases to be the world's reserve currency. In any case, if the deadline is October 18, it means that by that time congressmen will agree on a limit. If there are still days left, they will make a decision by the deadline in any case,” predicts Lozinsky.
Nikolai Zlobin, president of the Washington Center for Global Interests, shares a similar opinion.
“The issue is not debt, not a shutdown, not a default. There is fierce bargaining going on. This is why the Republicans have stuck it out - they have the opportunity to bargain with their states and constituencies for some things that in a normal situation they would never have received. They have caught the administration in a trap and are trying to rip off as much as possible from it, to bite off as much power, money, benefits, and so on from the federal center,” says Zlobin.
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