Ecns wire

Comicomment: US debt-ceiling debacle far from over

2023-06-03 Editor : Liu Yimeng ECNS App Download

(ECNS) -- After months of partisan arm-wrestling, the US Congress approved the bill to raise America's debt ceiling after the Senate's passage late Thursday. The two parties in the United States engaged in a last-minute tug-of-war over the US debt "bomb," which reached a critical point.

Some experts believe that the US debt ceiling crisis is the result of reckless politics driven by dollar hegemony and the underlying cause is the polarization of bipartisan politics. The recurring debt crises not only have a disastrous impact on the US economy and people's livelihoods but also continuously erode the credibility of the US government and the value of US dollar assets, thereby significantly impacting and profoundly influencing the global economy.


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