The Senate approves suspending the debt ceiling until December and avoids the 'default'

Democrats only approved with their votes the suspension of the debt ceiling after the Republican opposition refused to collaborate with Joe Biden

The United States Senate approved this Thursday to suspend the debt ceiling until December to prevent the country from incurring a suspension of payments on its national debt as of October 18.

Democrats only approved with their votes the suspension of the debt ceiling after the Republican opposition refused to collaborate with Joe Biden's Executive , thus putting the solvency of the US and the stability of the financial markets at risk.

The bill now goes to the lower house , whose Democratic majority must approve before the end of next week.

This Thursday's vote in the Senate came after the Republican leader in the Senate, Mitch McConnell , agreed hours before to renounce the parliamentary mechanism that requires a supermajority, thus allowing the Democrats to approve the measure alone.

McConnell's decision angered a large section of Republicans, who had been tightening the rope for weeks with the US economy on the brink.

The pact that McConnell agreed to only allows suspending the debt ceiling until December 3 , so the United States may find itself in the same situation two months from now.

The deal sparked a tepid response from the White House, which had been insisting for days that the longer-term debt ceiling needed to be suspended and will now have to settle for a temporary solution.

The Secretary of the Treasury of the United States, Janet Yellen , had warned on several occasions that the date of October 18 could be the one that the United States incurred in a suspension of payments of the national debt for the first time in its history.

That dreaded suspension of payments could have unleashed chaos in the financial markets and lowered the US credit rating.

This situation regarding the debt ceiling occurs because, unlike other countries, in the United States the government can only issue debt up to the limit established by Congress, which has the power to raise that ceiling as it sees fit.