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Biden signs law to increase debt ceiling

Thursday, 12/16/2021 7:05 PM from

dpa-AFX

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Joe Biden mit Barack Obama
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WASHINGTON (dpa-AFX) – US President Joe Biden has signed the law to increase the debt ceiling. The White House announced on Thursday in Washington. Congress had previously voted in favor of the project and thus prevented an imminent payment default. Biden now had to put the law into effect with his signature. The government is now allowed to borrow $ 2.5 trillion in additional debt.

The Treasury Department last warned that the government could run out of money this week without raising the limit. A default in the world’s largest economy could have triggered a global financial crisis and an economic downturn. / Nau / DP / zb

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