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U.S. President Barack Obama, I challenge Republicans and Democrats today to pay the political price for an agreement that would prevent the United States shortly suspend payments on their debts and start reducing their fiscal deficits. “The United States has always paid his debts, and will never pay,” Obama pledged in a press conference in which he said will reach an agreement that raises the national loan before the country exceeds its current limit set at 14, 29 billion dollars. For his part, President of the House of Representatives, Republican John Boehner, said shortly before the afternoon another meeting with the president in the White House, that the proposals made by Obama remain “unacceptable, because it includes tax increases “. Boehner agreed with Obama on the need to increase the borrowing limit authorized by Congress, but said it should reflect “a bipartisan understanding the need to reduce government spending.” Obama said he is “ready to endure much criticism” of his own Democratic Party and hoped that “Republicans also are prepared; if they really want what they say they want.” The U.S. is one of the few countries where the level of national debt requires approval from the legislature. Traditionally, Congress has revised the time the debt ceiling, but in this pre-election year, low economic growth, the issue has become hostage to partisan politics. What is at issue is what mechanisms adopt the U.S. government to reduce its deficit, which this year will reach about 1.2 billion. According to their traditional positions, Republicans want more cuts in spending without more taxes, and Democrats want to preserve social programs and collect more taxes on the rich. But this controversy now combined annual limit proximity of debt: The U.S. is one of the few countries whose level of borrowing to authorize Congress, and this limit will be reached on 2 August. The possibility of seeing the world’s largest economy into receivership, if only for a few days or weeks, it is unthinkable in all financial circles. Republicans, spurred by citizen Tea Party movement that is its most militant wing in the House of Representatives, are opposed to approve an increase of authorized borrowing, if not get what they want to cuts in public spending. As Obama pointed out today, USA has never failed to pay its debts and for now, although there are only three weeks before the deadline, financial markets do not show too many arrests for a possible bankruptcy, but time works against. Obama today urged Republicans to follow, “pointing to a big plan,” referring to his proposal to cut the deficit by about $ 4 trillion over the next decade. Obama’s program includes reducing government spending, but tax increases. Republicans literally have sworn they will not accept new taxes and still struggling for more cuts in items such as Social Security benefits and medical expenses for poor and elderly are described Obama as “sacred cows” for the Democrats. The president said, with respect to the debt limit, it will not accept interim agreements to postpone the deadline by 30, 90 or 180 days, and said: “It would be irresponsible to continue postponing the increase: this is America, not manage our affairs by increments of three months.” “We have a moral imperative to deal with debt and the deficit, and that we’ve heard time and again from the Republicans,” Obama said. “If not now, when?” Asked the president several times, thinking that in six short months will start the race for the presidential and general elections of 2012. “An agreement will require that both Democrats and Republicans give in a little in the way its principles have been untouchable, from taxes to social programs,” said Obama. “But I cannot accept and not accept is an agreement on us to give everything and obtain nothing,” added the president. “If each party wants to keep one hundred percent of what their budgets are ideological, not get a deal,” he said.
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Obama dismisses the collapse of the U.S. economy
