U.S. Commitment: Averting Debt Default

U.S. Treasury Secretary Scott Bessent has confidently declared that the United States will not default on its national debt. This statement comes as the Senate reviews a significant tax and spending bill, which includes a crucial provision to raise the debt ceiling. The legislative move follows approval by the House of Representatives.

In an interview with CBS's 'Face the Nation,' Bessent reiterated, "The United States of America is never going to default. That is never going to happen." His remarks are aligned with urgent calls for Congress to act swiftly to raise the government's borrowing limit.

Bessent emphasized that increasing the debt ceiling by mid-July is essential to avoid a default scenario that could potentially wreak havoc in global markets and destabilize the financial system.

(With inputs from agencies.)