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The US may face another "shutdown" by the end of the year

Oct 2, 2023

The United States may face another "shutdown" by the end of the year. This opinion was expressed by political analyst Andriy Vigirinsky on the talk show "For the Time Being" on the YouTube channel "We are Ukraine".

"They will go for another 'shutdown'. This is only a temporary budget for 45 days. I read financial analytics on the US market, and they say that this is a 45-day solution. And it is not at all certain that a decision will be made to adopt a budget for the next fiscal year during this time," said Mr. Vigirinsky.

He added that despite the start of the new fiscal year, the US is still approving last year's budget expenditures.

"They approve expenditures for temporary financing within the limits of the previous year's budget expenditures and manage the country. And then a whole set of other circumstances will arise... Why do the United States always borrow more? Because when you have a reserve currency and the main currency of global trade, you cannot have an equal balance of payments. You always borrow more. As long as we all keep something in dollars, the United States will always increase the debt ceiling," the expert explained.

Author - Serhii Kolomiets, 03/10/2023

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