Wednesday, July 27, 2011

U.S. debt: the Republicans will not vote before Thursday

The proposal by the Republican chairman of the House of Representatives John Boehner to leave the United States of the budget impasse will not be put to a vote before Thursday at the earliest, officials said Tuesday, July 26 at the Congress. The postponement will delay further negotiations on raising the debt ceiling demanded by the Treasury before the deadline of August 2 to meet its commitments.

The Boehner plan competes with that of Democratic Majority Leader Harry Reid in the Senate. The White House and much of the elect of the Capitol hope to reach a compromise combining the two texts, but Harry Reid said that the negotiations should not resume until the proposal from John Boehner to be considered by the House.

The proposal of the President of the House of Representatives should have been presented Wednesday before the elected, but a study by the Congressional Budget Office (CBO), showed the meantime that the savings from this plan is $ 850 billion over ten years, not 1 200 billion as claimed Boehner.

An announcement has angered elected members of the House of ultraconservative movement Tea Party. At least ten of them have said they would vote against the proposal to their "speaker". The text should not bring against him more than 22 Republican votes he needs to be adopted without the support of Democrats.

Even if it is approved by the House, the plan, which plans to allow the Treasury to borrow for only a few months before a new increase in the debt ceiling in the spring, would surely be rejected by the Democratic majority in the Senate and retoqué by President Barack Obama. Harry Reid for his part proposed raising the debt ceiling of about 2700 billion, against a thousand for Boehner, allowing the Treasury to meet its commitments throughout the election year 2012.

The budget deficit puts the United States the risk of default and a lowering of their sovereign rating to the serious economic consequences.

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