Economy Politics USA

U.S. debt: “there’s very little time” to find a compromise

WASHINGTON – U.S. On Saturday President Barack Obama called once again Democrats and Republicans to quickly reach an agreement so that the federal government is not found insolvent and unable to pay the pensions of retirees and veterans.

“There is very little time,” Obama said in his speech broadcast weekly on radio and online. Already the night before, Bush had assured that there are many ways to break the deadlock in Congress, while preventing the need to quickly find a consensus solution.

Representatives and senators remain divided on raising the debt ceiling and spending cuts.

Barely two hours after the House of Representatives to Republican majority, had adopted the plan by its chairman John Boehner by 218 votes against 210, the Senate majority to the Democrats rejected by 59 votes against 41 on Friday.

The text of the GOP proposed to raise the debt ceiling of $ 900 billion and cut spending 917 billion dollars. But it also specified that before any further raising the debt ceiling, Congress should approve a constitutional amendment on balancing the budget.

The addition of a balanced budget, a concession to the most conservative Republicans and members of the Tea Party, was rejected by Democrats; it reduces the possibility of finding common ground.

The Obama administration officials say the two houses of Congress must find a compromise before Aug. 2, otherwise the government will no longer be able to meet its financial obligations. The lack of agreement could result in a default unprecedented federal state.

Share and Enjoy

  • Facebook
  • Twitter
  • Delicious
  • LinkedIn
  • StumbleUpon
  • Add to favorites
  • Email
  • RSS

1 Comment