The United States is on the verge of debt default

The United States debt default may come in October if the Congress does not raise the national debt limit.  Previously, the United States has not yet declared a default in such situations, which, according to some experts, could lead to serious consequences.

A vote on a bill that could increase the size of the country's public debt is about to take place soon. The document has already been approved by the House of Representatives, but it has many opponents.

According to the head of the Center for Economic Policy Shai Akabas, it is not clear at the moment, how exactly the Ministry of Finance will act. However, both the significance of the risks and the potentially high costs are absolutely clear.

The Ministry of Finance has resorted to emergency measures to pay off the existing debt obligations.

According to Akabas, after the date of the announcement of the default, the Ministry of Finance will no longer be able to pay off all the debts and will face the need to choose those that will be paid first. This will lead to litigation, but the White House still counts on the adoption of the bill, reports TASS. According to experts, the US national debt is now estimated at about $ 28.5 trillion.

The US national debt limit has been previously frozen, now it has reached the maximum established value. On October 1, a new financial year begins in the United States, which requires an early resolution of an urgent issue. Earlier, Republicans said they would not support an increase in the debt limit until the president and Democrats cut expenses.