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Can the US debt ceiling crisis be good or bad for us ?

[tinker901]

Last month, Republicans put forward a deal to suspend the debt limit by $1.5tn or until 31 March.

In exchange, they would keep spending for key agencies at 2022 levels during the next financial year- and limit growth to 1% annually over the next decade - moves that could lead to $4.8tn in savings.

The proposal would repeal key priorities of the Biden administration, such as student loan forgiveness and tax incentives for electric vehicles.

The White House has said the deal forces "middle class and working families to bear the burden of tax cuts for the wealthiest" and has "no chance" of becoming law.

" The debate dimmed with Donald Trump, a Republican, was in the White House and Congress raised the limit three times without major debate. It re-ignited when Joe Biden became president. "