Avoiding a global financial crisis

This Friday, the United States reached its spending ceiling, set at a whopping $31 trillion. If it is not extended, the US Treasury will not be able to borrow more, even in the short term, to obtain funds to meet the commitments of the US Administration. And for the time being, it does not seem that the House of Representatives will reach the necessary parliamentary agreement to raise this ceiling, since the current Republican majority wants to flaunt a weapon with which to weaken President Joe Biden. 
However, this partisan fight would lead to a cascade of consequences of worldwide scope: suspension by the United States of the payment of its debts -it would be the first time in history-, and of course, inability to meet the social expenses, increased very favorably by the administrations of both Barack Obama and Joe Biden, and even force the postponement of the payment of the payrolls of the U.S. military. 

In the words of the current Treasury Secretary and former head of the Federal Reserve, Janet Yellen, failure to honor U.S. debt "would trigger a global financial crisis," the consequences of which are relatively easy to guess. Yellen's warning came as soon as she set foot on African soil in Dakar, where she has begun a ten-day tour of the entire African continent, a scene from which the United States has been relatively absent in recent years, and where the status quo that has been barely maintained since decolonization seems to be crumbling. 
The almost uncontainable advance of jihadism both to the north and south of the Sahel Strip; the progressive increase in hostility towards the French presence in several of the countries of the French-speaking zone of influence; the constant penetration, with increasingly aggressive overtones, of China and Russia on the continent, and the frustration of many sectors of the different societies, have turned Africa into a field of fierce political and economic competition between the great powers. 
With her visit to Senegal, whose President Macky Sall is also President of the African Union (AU), Janet Yellen inaugurates a parade of senior US officials to many of the continent's countries, a litany that will be culminated by Joe Biden himself at the end of this year. 

The Secretary of the Treasury has not concealed her concern that the current situation on Capitol Hill could lead to a crisis, whose most visible consequences would include the loss of confidence in the dollar, the currency which, despite so many attempts, continues to be the world's reference currency and in which more than 70% of world trade transactions are carried out. Nor, in Yellen's opinion, should a global recession be ruled out, which would give rise to another scenario of unforeseeable consequences. 
For the time being, it is unknown how the Republican majority in the House of Representatives will behave. So much so that the current situation of uncertainty and threat of global financial crisis has never loomed in the past 79 times since 1960 that legislative action has been required to raise the spending ceiling.