U.S. urged not to worry about the debt ceiling until 2018

© RIA Novosti / Natalia to Seliverstova photobacteria in the USA. Archival photoU.S. urged not to worry about the debt ceiling until 2018© RIA Novosti / Natalia to Seliverstova the image Bank

Treasury Secretary Steven Mnuchin believes that worry about the debt ceiling the country is not worth until 2018.

«We don’t need to worry about this issue (the debt ceiling of the United States — ed.) until 2018», — he told in interview to TV channel Fox News.

On the eve of the US President Donald trump suggested to get rid of the U.S. debt ceiling. In his opinion, it «complicates the situation» and «not really required». Earlier it was reported that trump could agree to increase the debt ceiling with the opposition Democrats in Congress that caused the discontent of some Republicans.

Currently the debt ceiling is 19.8 trillion. USA is the only country where the existing debt and spending obligations of the government approved by Congress. The debate over raising the debt ceiling repeatedly put US on the brink of default in a technical sense, although Congress has always taken appropriate decision.

Speaking about tax reform, Mnuchin reiterated previously voiced by the authorities of States that tax relief will be «pay for» economic growth.

Tax reform with a wide reduce the rates of taxation is one of the key election promises trump. His administration and Republican leaders of the U.S. Congress published in the July joint statement, which announced the beginning of the development of tax reform and promised «more significant» tax cuts for corporations and individuals.

U.S. urged not to worry about the debt ceiling until 2018© RIA Novosti, Integratiebeleid in fotomonster U.S. debt

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