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Is America avoiding bankruptcy?  Discussion begins
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Is America avoiding bankruptcy? Discussion begins

For a US Congress that has been sharply divided along partisan political fault lines Before the end of the fiscal year on September 30, an agreement must be reached on temporary funding for the operation of federal institutionsif they want to avoid paralysis of state machinery (government shutdown).

The transitional budget will ensure the functioning of state institutions until deputies and senators approve next year’s budget, expected before Christmas.

US President Joe Biden and his cabinet in early August and requesting an additional $40 billion (14,500 billion forint) additional funds for priority political purposesAnd more than half of it to support Ukraine. As part of the package, the White House asked the US Congress for $13 billion to maintain military support and arms shipments to Ukraine, and another $8 billion for economic and humanitarian aid to Ukraine. The administration also requested a $12 billion increase in the federal disaster fund, which President Biden last week increased by $4 billion, citing a much higher-than-average number of natural disasters this year.

A heated debate is expected in Congress over the government’s demands for increased spendingBecause even in June, MPs could only agree on the upper limit of the national debt and budget financing issues after a long political battle.

Cover image source: Getty Images

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