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The United States may face a default at the beginning of September due to too low tax revenues, Bloomberg news agency reported, citing a report by the Bipartisan Policy Center (BPC).
For example, analysts emphasize that the United States may exceed the limit of public debt in early September, if Congress does not decide to raise it. At the same time, experts had previously predicted that the United States would exceed this mark only in October-November 2019.
The reason for this was too low tax revenues, which grew by only three percent compared with last year instead of the previously estimated 6 percent.
In addition, it is noted that the lower house of the US parliament on July 26 is going on vacation, but the issue of raising the debt limit has not yet been raised.
As the head of the economic policy department of BPC Shai Akabas said, the government should not go on vacation without a corresponding decision on the state debt. According to him, otherwise, Washington risks not ensuring the fulfillment of its loan obligations.
In early 2019, the US national debt for the first time in history exceeded 22 trillion dollars. In addition, for the fiscal year 2018, the United States budget deficit grew by 17 percent and reached $ 779 billion. It is assumed that by 2020 it will exceed a trillion mark. At the same time, the national debt is likely to maintain a tendency to accelerate growth, since government spending is not controlled at all.