(USA) Joe wants to borrow more money … good luck there then!
President Biden is in a familiar trap. He wants to borrow more money and if he is hindered in this process then the Treasury will stop borrowing ... it's as simple as that. What will be the consequences? Well, loans will probably be in default and the country will not be able to meet its financial commitments. As a result, the western world's financial systems would be left on a cliff edge. But if he does get the go-ahead, who does America know who is rich enough to lend it a few trillion? Well, the Chinese of course ... so, as the old saying goes ... good luck there then!