International Finance: Biden may have to act unilaterally to avoid default, says California Democrat

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المملكة العربية السعودية أخبار أخبار

المملكة العربية السعودية أحدث الأخبار,المملكة العربية السعودية عناوين

The US will not default on its debt but the Biden administration might be forced to take unilateral action to head off a crisis, Representative Ro Khanna, a California Democrat, offering several possible executive manoeuvres.

“The question is whether it’s going to come to unilateral action by the executive branch,” Khanna said during a meeting with Bloomberg News reporters and editors on Monday.

Treasury Secretary Janet Yellen has rejected the coin idea, expressing doubt that the Federal Reserve would accept such a note. Khanna would like to strategically cut the defence budget and levy taxes on the very rich – including the billionaires of his Silicon Valley district who, he said, continue to send him back to Congress.

 

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