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Financial firms raising alarm over US debt ceiling
[Iran Press TV] American financial firms are expressing alarm over fears that an increasingly dysfunctional US Congress may fail to reach an agreement to raise the country’s debt ceiling.Bitter divisions among Republican Party politicians and President Donald Trump ...New York real estate developer, described by Dems as illiterate, racist, misogynistic, and what ever other unpleasant descriptions they can think of, elected by the rest of us as 45th President of the United States... ’s unpredictability could rule out a deal to raise the US debt limit before an October deadline, several lobbyists representing dozens of bankers, investors and credit rating agencies, told Rooters. Trump’s attacks on members of his own party and his failure to denounce white supremacists at a violent protest in Charlottesville, Virginia, this month, has raised questions over the president’s ability to build consensus on the debt limit, one bank lobbyist said. "Everyone is very worried," he added. The debt ceiling is a legislative limit on how much money the federal government can borrow from the US Treasury Department to fund its budget deficits and meet financial obligations. "The stakes here are incredibly high. The economic impact associated with debt default is so immense," said Rob Nichols, president and CEO of the American Bankers Association (ABA), one of the country’s key financial lobby groups. "We’re monitoring this extremely closely and we will mobilize as needed throughout September," he added. Posted by: Fred 2017-09-04 |
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