#AceDebtNews – failing to meet their debts ,will put the US in first default ,this follows a previous one quarter payment missed back in 2008, during the financial crisis! The Chinese government bailed them out that time, now they owe the Chinese! They miss a payment this time, there will be no one to bail them out!
International Monetary Fund Managing Director Christine Lagarde said the Congressional deadlock over the U.S. debt ceiling is threatening the U.S. and world economies and cautioned against “creative accounting” to avoid default.
“If there is that degree of disruption, that lack of certainty, that lack of trust in the U.S. signature, it would mean massive disruption the world over,” Lagarde said in an interview with NBC’s “Meet the Press” about the impact of not raising the borrowing limit. “And we would be at risk of tipping, yet again, into recession.”
Lagarde said the U.S. stalemate “transformed” the discussions of global finance officials gathered in Washington this weekend at the IMF annual meetings.
Senate leaders of both parties began negotiations to avert a default even as senators blocked legislation to…
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