Joe Biden and Republicans reach tentative US debt ceiling deal

• Financial

American President Joe Biden has some interesting ideas that could be of great benefit to the United States and its citizens as well. Namely, Biden together with the opposition Republicans reached an agreement on suspending the maximum amount of the national debt of 31.4 billion dollars.

As a result, everything should be aimed at the end of the crisis that has been going on for several months now. The situation will not be over immediately, however. In order to realize everything, there are certain prerequisites that must be met.

The US Congress will have to accept the proposal. And not only that. The proposal will have to be accepted before June, given that the money used to pay the debt may disappear. There are many who are pointing fingers at each other and looking for who is the main culprit in everything.

There are some who believe that it is Biden, while there are others who hold different opinions on the matter. If this proposal is implemented, the debt limitation should last for the next year and a half.

Joe Biden and his ideas: Republicans and Democrats have different ideas In the whole story, however, Biden has one major problem that needs to be addressed.

In order for this plan to become a reality, he will have to get the Republican votes and the support of the Republican party if he really wants it to fly. Interestingly enough, the Republicans currently hold a majority of the seats in the House of Representatives.

Both sides: Republicans and Democrats have different ideas in their heads. Republicans are in favor of cuts that slow debt growth. Democrats, on the other hand, want to increase taxes for the rich to reduce the debt, but they also want to help their citizens in different ways, such as providing free education.

We will see at the end what will happen in this story. Both have excellent ideas, but it is necessary for them to find a common word.