United States House of representatives in the Republican-sponsored Bill to appease the conservative tea party, cutting the deficit to a design by the Government of the United States is one of the first pass through the head.
Legislative bodies in the United States will provide you with a quick increase of 900 billion dollars loan — it's all so that they can continue to pay the Bills — from $ 917 million, along with the Government of the federal spending cuts are essential.
Its chief architect, Republican speaker vote, Congress approved a balanced budget requirements, and John Boehner to ratify a constitutional amendment for a State the Government's debt in the future also be dispatched to sending increases came after the concessions needed.
"For the benefit of our economy and our future I'm going to end this crisis now, and each of these processes support this as a representative of the United States to support the Bill to you" on the floor of the House, Boehner said before the vote.
House vote on the final count was about 210 to 218 in favour. Twenty-two Republicans voted against the Bill, and no Democrats supporting it.
The vote was a measure in the Senate, President Barack Obama and Senate who say will die [NULL] is a confrontation with the Democratic-controlled United States.
But Boehner's Bill in the Senate in the Republican Senate Minority Leader Mitch McConnell for the chance to open the talks, which sends the Bill eventually passed by the Chamber.
Also Friday, stressed the televised address to the Senate Democratic majority leader Harry while Obama leads push ahead of his Bill and officers in the United States Treasury Department officials met with bank debt if no deal is the largest auction and how to run it would deal with the appointment of representatives to reach during the emergency.
"There are plenty of ways of this mess, but we rarely have time," Obama said in his first public speech since Monday.
President of the United States Department of Treasury says Government Legislative Council when the bipartisan solution that provides many options for connecting to your borrowing limit is reached on Tuesday.
"Give me the first time a party," Obama, Congress must put people first, the United States now, he said.
The Treasury Department to borrow $ 14.3 trillion of government authority by the United States raised by Parliament on Tuesday failed to result in the primary, he said.
Jp Morgan Chase, Goldman Sachs, Citigroup and other big bank bond trading Department official Treasury debt auctions are processed if you do not check the deadline Congress how the Federal Reserve Bank in New York for the met.
Financial management among the growing concerns about the role, with a default of Treasury securities to primary dealers on the sale of a large bank had a question from Rep. 20
While the Treasury's ability to borrow new debt after August 2, it did not increase the total debt will not be able to work as long as you can refinance the debt maturity is the supply still exist.
Department of the Treasury to borrow $ 500 per month on average 125 billion dollars in new debt to refinance maturing debt.
How the Government is determined to pay the Treasury statement, which will not occur in a restricted offer a handful of borrowers.
White House spokesman Jay Carney Administration provides the public with details of how Government will prioritize paying on Friday did not plan, he said. Administration officials Thursday they discussed the Government's contingency plans in the next few days.
Carney said the Administration still plans to contingency planning, lying close to Tuesday's deadline is sit around and wait. Treasury makes payment of 80 million a month.
I believe the Government would pay the bond holders, the first private economy. The country is likely to default on its debt payments missed Treasury bonds. Interest rates on Treasuries it can rattle the market, many consumer and business loans, is associated with most of the increase borrowing costs.
Some economists say the Government is in the hands of late as Aug. 15, 2008 interest payments and pay cash and a few other fit enough.
"We should be trading our Tuesday to pay the Bills," Obama said. "We could lose our triple-A rating if we ... We have our credit rating because there was no political system to fit A triple. "
Low credit rating, effectively increasing the tax mean for Americans, he said, in the form of higher interest rates on mortgages and consumer loans. That does not mean spending more money on debt ceiling height, Obama said.
"It means Congress has already racked up to pay the Bills. Permission is granted, we already have we racked it simply to pay the Bills, we kept saying. "
Earlier Friday, Senate majority leader Reid in the Senate before he would push a Bill to his rival. notification of deficit cutting
United States President Barack Obama in order to keep our United States Government for the ' word ' loan to its need to raise the loan limits, said on Friday. (Pablo Martinez Monsivais/Ap)Reid's move adds to political standoff escalates and the Dow Jones industrial average down 0.9% on Friday mid-morning, aura and the financial markets. It is a bit, but still down to 0.79%, its worst loss of the week of 4% than the loss for the week, and closed.
United States Department of Commerce's latest GDP report, the market economy grew by an anemic 1.3% rise of 1.8% in the second quarter the economy had been expected for a show that had more weight by announcing Friday.
"The only sure about the current deadlock is that it is a much slower pace in the first half of the year and clearly than previously thought bad for the economy to grow in the United States," BMO Financial Group Senior Economist commented on Sherry Cooper said.
"This is our last chance to save this country from possibly default." saying that Congress recognized the lead Senate floor with colleagues
Lead Senate Minority Leader Mitch McConnell was that invites you to join the negotiations, he said.
"I have offered a compromise Bill, but it's not perfect in the eyes of the Republicans in the Senate of the Democratic Party. In addition, is perfect for the Democratic Party, "said Reid. "But it works for all of us together, we must be verified. It is the only option. "
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