Media reported about a possible default in the USA.
USA have the opportunity to face a default in early autumn due to too low tax revenues, reports Bloomberg referring to the report of the bipartisan policy Center (BPC).
USA have the opportunity to face a default in early autumn due to too low tax revenues, reports Bloomberg referring to the report of the bipartisan policy Center (BPC).
So, analysts note that North America have the opportunity to exceed the debt limit in early autumn, if Congress does not take decisions on improving it. In this case, the Experts predicted that North America will exceed this mark only in October and November 2019.
The reason for this were too low tax revenues, which increased by only 3 percent compared with last year, instead of the anticipated first 6 %.
in addition, it is noted that the lower chamber of the American Parliament on 26 July, goes on vacation, however, the issue of increasing the national debt limit has not yet been raised.
As said the head of Department of economic policy BPC shy Akabas the government cannot go on vacation without a decision on the state debt. According to his statement, otherwise, Washington risks not to provide the fulfillment of their loan obligations.
in early 2019 the U.S. national debt for the first time in history exceeded 22 trillion dollars. In addition, for the 2018 fiscal year, the budget shortfall of the United States increased by 17 % and reached 779 billion. It is planned that by 2020 it will exceed a trillion. In this case, government debt may show a tendency to accelerate the increase, As government spending not controlled.
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