Tuesday, July 26, 2011

U.S. debt, Obama fight opposition

Reducing the deficit. At any cost. Barack Obama in a speech to the nation, stresses the importance of a debt agreement. He explained that if this impasse continues, "will produce incalculable damage." The American president is concerned, "we have the world's eyes on him." Reaches out to Republicans, Ronald Reagan quotes, and just asks the Americans to press Congress to break the deadlock.

A response is the Speaker of the House John Boehner who refer all requests to the sender. "Obama wants a blank check, but it will." Now the possibility of a downgrade for the United States gets serious and is at the heart of the debate on Wall Street. A hypothesis that could overwhelm all other markets.

Although the Asian held. LIVE TV And so Obama came into the homes of his countrymen in a speech on live television. The president did not hide his concern. Indeed. It warns that without a compromise on the deficit "is likely a deep economic crisis caused entirely by Washington." A default would be "reckless and irresponsible a result of the debate." And remember, as in the past the increase in debt has been "routine" to the point that a Republican president Ronald Reagan signed it 18 times and George W.

Bush's seven. Then point your finger at the opposition: "The only reason that this balanced approach is not on track to become law now is because a significant number of Republicans in Congress are insisting on an approach that includes only spending cuts. An approach that does not ask all Americans to the wealthy or corporations to contribute more.

" The balanced approach is talking about for weeks, U.S. President includes, in addition to cuts in expenditure, including a series of increases in taxes. The counter-Republicans have proposed a program in two phases in order to raise the roof once the debt of a trillion dollars and then allow a greater increase next year.

The latter, however, depend on the decision of Congress to approve or reject the cuts to programs like Medicare and farm subsidies. Obama, however, opposes a plan in two phases. But in the meantime without them you do not go anywhere. And it is the Speaker of the House John Boehner, in a speech aired shortly after that of the president, a definite no answers yet.

"Obama has often said that we need a balanced approach, which in Washington means that we spend more and you pay more. The sad truth is that the president wanted a blank check six months ago and wants a blank check now. This simply will not happen "

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