{"id":43686,"date":"2025-06-03T11:30:48","date_gmt":"2025-06-03T08:30:48","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=43686"},"modified":"2025-06-03T06:49:11","modified_gmt":"2025-06-03T03:49:11","slug":"us-treasury-no-default-debt-ceiling-raise","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/us-treasury-no-default-debt-ceiling-raise\/","title":{"rendered":"US Treasury: No Default Despite $36 Trillion in Debt!"},"content":{"rendered":"<ul>\n<li><span data-contrast=\"auto\"><strong>US Treasury<\/strong> Secretary <strong>Scott Bessent<\/strong> stressed that the country <strong>will not default<\/strong> despite a debt load exceeding <strong>$36 trillion<\/strong>.<\/span><\/li>\n<\/ul>\n<h2>US Treasury Chief: Urges Congress to Raise Ceiling<\/h2>\n<p><span data-contrast=\"auto\">In an interview with CBS News, he said:<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<blockquote><p><em>\u201cThe United States will never default. That will never happen; we are on the warning line and will not hit the wall.\u201d\u00a0<\/em><\/p><\/blockquote>\n<p><span data-contrast=\"auto\">Bessent\u2019s remarks came as <strong>Congress<\/strong> approaches the mid-July deadline to raise the <strong>debt ceiling<\/strong>. Current estimates indicate that the government\u2019s <strong>borrowing<\/strong> authority will be exhausted by that date. Bessent warned that if the debt ceiling is not raised before then, the government may lose its ability to make debt payments. Budget analysts predict the Treasury will exhaust its <strong>extraordinary<\/strong> measures to make debt payments by the end of summer.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Bessent also pushed back against JPMorgan CEO <strong>Jamie Dimon\u2019s<\/strong> warnings of a collapse in the <strong>U.S. bond market<\/strong>. Dimon criticized government spending post-pandemic and <strong>quantitative<\/strong> easing policies. He suggested that rising debt levels could increase the risk of a future crisis. However, Bessent noted that Dimon\u2019s past predictions have not come true:<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<blockquote><p><em>\u201cI\u2019ve known Jamie for a long time, and throughout his career, he has made such predictions. Fortunately, none have been accurate,\u201d he said.\u00a0<\/em><\/p><\/blockquote>\n<p><span data-contrast=\"auto\">Bessent said that reducing the <strong>debt level<\/strong> will be a gradual process over four years. Additionally, former President Trump used his proposed tax and spending package as a tool to raise the debt ceiling. This package could further increase the debt level.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">These concerns led <strong>Moody\u2019s<\/strong> Ratings to downgrade the US <strong>credit rating<\/strong> from the highest level, Aaa, to Aa1. Moody\u2019s became the third major credit rating agency to downgrade the U.S. government\u2019s credit rating since 2011.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\"><strong>US Treasury<\/strong> Secretary <strong>Scott Bessent<\/strong> emphasizes that the country will not default despite its debt load. He called on Congress to raise the <strong>debt<\/strong> ceiling. However, concerns about debt sustainability and economic stability remain.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-ccp-props=\"{}\"> <em class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Telegram,\u00a0<\/strong><\/a><a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">YouTube<\/strong><\/a>,\u00a0and\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Twitter<\/strong><\/a>\u00a0channels for\u00a0<\/em><em class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">the latest\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">news<\/a>\u00a0and updates.<\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>US Treasury Secretary Scott Bessent stressed that the country will not default despite a debt load exceeding $36 trillion. US Treasury Chief: Urges Congress to Raise Ceiling In an interview with CBS News, he said:\u00a0 \u201cThe United States will never default. That will never happen; we are on the warning line and will not hit<\/p>\n","protected":false},"author":36,"featured_media":43039,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,657,2],"tags":[17208,17210,17204,17206,17209,17207,16350,17205,8667,16347,17212,9425,17211,11140,11017],"class_list":["post-43686","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy-news","category-en","category-news","tag-bond-market","tag-congress-debt-vote","tag-debt-ceiling","tag-debt-crisis","tag-debt-sustainability","tag-economic-stability","tag-fiscal-policy","tag-government-borrowing","tag-jamie-dimon","tag-moodys-downgrade","tag-pandemic-spending","tag-scott-bessent","tag-us-credit-rating","tag-us-debt","tag-us-treasury"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>US Treasury: No Default Despite $36 Trillion in Debt! - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/us-treasury-no-default-debt-ceiling-raise\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US Treasury: No Default Despite $36 Trillion in Debt! - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"US Treasury Secretary Scott Bessent stressed that the country will not default despite a debt load exceeding $36 trillion. 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