Republican, Senate Minority Leader Mitch McConnell also said that, let the Senate maintenance of state, "until you solve the crisis facing our country", which is the unanimous decision of the two parties.
the past few days, Democrats and Republicans have carried out high-intensity intensive negotiations, such as Moody's and Standard & Poor's credit rating agencies have also warned that, if you can not raise debt ceiling before the deadline, the U.S. sovereign debt rating will be downgrade.
Monday, U.S. Treasury Secretary Timothy Geithner in a TV talk show gives this round of negotiations on the "bottom line" - at least ensure that the U.S. debt default. It would be the only good news of the recent investment from the official heard.
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According to the U.S. mainstream media, the U.S. Senate's bipartisan being discussed Republican leader Mitch McConnell, a backup program, which would authorize the Obama administration in the period before the November 2012 general election points three stages to improve the debt limit.
moves to Zhongpan of the first "bottom"
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European Central Bank President Jean-Claude Trichet on the 18th, expressed optimism that "no doubt" the U.S. authorities to find a compromise to increase the debt ceiling. Jean-Claude Trichet said U.S. policy makers will find the right way to deal with current difficulties, "I am absolutely convinced.
the spirit of the starting point to consider for the 2012 election, the Obama administration has been insisting to focus on negotiations to reach a long-term comprehensive agreement. Obama threatened that if the agreement reached contains the requirements of the government balance its budget for the contents, or too obvious short-term characteristics, he would veto.
In view of the deadlock delay is difficult to break, recently a lot of heavyweights have issued a warning. "Warren Buffett said on Monday that no one knows, the United States If you miss the deadline of the debt ceiling is raised, what will happen, but if it will not reach an agreement, it will be" very stupid ", the United States" does not worth taking such risks. Former U.S. Treasury Secretary Lawrence Summers on the 18th also the author urge to reach a debt agreement as soon as possible to avoid harming the already slow economic recovery ".
U.S. President Obama at the White House over the weekend said the United States must not be a debt default. "If the government breach of contract cause interest rates to rise, it will mean a tax for everyone. Obama said the White House is ready to make tough decisions, such as the reduction of the Democratic Party do not want to cut medical costs. He also urged the Republican Party is also related to the tax field for the interests of the party to make concessions.
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When asked about the August 2 deadline for the possibility of again after the delay, the Geithner said the lawmakers to realize that there is no feasible way to continue to operate in an even longer period of time in America's fiscal.
and some conservative Republicans are worried about the options for spending cuts have not done enough. Moreover, it may also be counterproductive, Obama has a chance to demonstrate its leadership in a crisis to the electorate.
analysts believe that Geithner about the two parties will ensure that no debt default as a speech encouraging the end of the negotiations, "Paul" conditions. Outstanding debt of the U.S. federal government has been approaching the debt ceiling of $ 14.3 trillion in mid-May, if not through legislation to increase the debt ceiling, the United States as early as August 2nd event of default.
in breach of contract "guarantee" under the premise, the authorities are also privately explore one in three phases to improve the U.S. debt ceiling of the "plan B". For the White House and Congress, the biggest enemy now is the time.
Geithner said in the Republican and Democratic parties in the negotiations about the U.S. debt ceiling, the leaders of the two parties have been completely ruled out the possibility of the United States defaulting on its debt. Geithner also said he still agreed on the two sides will increase the debt ceiling full of confidence.
However, in view of the two parties it is difficult to bridge differences on key issues of tax increases and cuts in public welfare spending, Washington has had to consider some form of optionsWorld Steel Pipe , the latter at least may authorize the Obama administration to immediately improve debt ceiling to meet their immediate needs.
Up to now, the U.S. government and Congress around the debt ceiling is raised, the negotiations are still difficult to push forward. On key issues such as tax increases and spending cuts, the two sides is still difficult to reach an agreement, but the good news is that U.S. Treasury Secretary Timothy Geithner, Zhou Yiliang "cards" - the leaders of both parties has been completely ruled out the United States the possibility of debt default. This means that even if the talk is not a happy long-term agreement, the two sides may also try to find some alternatives to ensure that the U.S. does not occur defaulting on its debt.
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The White House and Congress, the biggest enemy is time. July 22, Obama has set to leader of the negotiations between the two parties agreed deadline, because the only way to ensure that Congress has plenty of time to be enacted before the August 2 and adoption of relevant legislation, which will allow the United States raised the debt ceiling .
White House spokesman Carney said on Monday: we can not only prepare a choice, there must be a mechanism to ensure that in any case the United States will not default. "We must be ready for the alternative or final choice of communication on the matter is already under way.
"Scenario B" has not yet rule out the
But even this compromise seems to have failed to allow both sides to accept. Democrats are worried, McConnell's proposal may be before the election, will improve the debt ceiling caused by all the political consequences attributed to the President, thereby impeding the Obama re-election World steel pipe network editing . The deficit has always been a "flawed" in the U.S. presidential election.
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negotiations on July 22 a "doomsday" in sight - the financial markets into the U.S. debt time, 48 hours decide to negotiate the success or failure.
U.S. Senate Majority Leader, Democrat Reid, 18, said lawmakers increased the debt ceiling of before agreement is reached, the Senate will not enter the recess. "We will be every day to keep the meeting state, including Saturday and Sunday, until the legislation of Congress, to avoid the United States defaulting on its debt.