United States Treasury Secretary Janet Yellen stated on Thursday that the default on the debt ceiling will seriously question US national security worldwide. Speaking at the G7 Finance Ministers and Central Bank Governors Meeting, Yellen warned that a potential default threatens the economic recovery and could trigger a global recession. In that regard, “there is no good reason to generate a crisis,” she stressed. Despite the above, according to the treasury secretary’s assessment, the world economy is still in better shape than it was six months ago. Earlier, President Joe Biden emphasized that default on the nation’s debt is “not an option.”
Trump: US should default on debt if no spending cuts
United States 45th President Donald Trump said that Republicans should trigger a default on debt in case members of the Democratic party failed to approve “massive” expenditure cuts. “You might as well do it now because you’ll do it later because we have to save this country. Our country is dying. Our country is being destroyed by stupid people, by very stupid people,” the former president argued. However, Trump estimated that the debt default would likely not happen as he expects the Democrats to “absolutely cave … But it’s better than what we are doing right now because we are spending money like drunken sailors,” the former president said: BlackMask Blog