Mitch McConnell is the leading Republican in the U.S. Senate
(Photo: dpa)
Washington In the dispute over raising the US debt ceiling, the Republicans want to reach out to the ruling Democrats and avoid US default. His party will support an extension of the federal debt ceiling until December, said Senate Republican leader Mitch McConnell on Wednesday.
This should prevent a crisis. That could break a month-long stalemate between Democrats and Republicans. US Treasury Secretary Janet Yellen said days ago that if the current ceiling of 28.4 trillion dollars is not raised, the US may no longer be able to meet its payment obligations from mid-October.
Immediately prior to McConnell’s statement, after meeting top business executives, Biden had put pressure on Republicans to vote to raise the debt ceiling.
“Our markets are shaken, the savings of the Americans are at stake,” said Biden in Washington. The Republicans would have to stop playing Russian roulette with the economy and not block a vote scheduled for the course of the day. Biden had met with managers from JPMorgan, Bank of America and Citigroup, as well as Intel and Raytheon, among others.
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The Democrats currently control the House of Representatives and, with a wafer-thin majority, also the Senate. Most recently, however, there was a procedural blockade in the Senate (filibuster), which can currently only be resolved with 60 out of 100 votes.
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