Barack Obama: Talk for U.S. Debt Crisis Continues


7/18/2011 07:59:00 PM | , ,

President Barack Obama faced with tough decisions related to the country's debt crisis.

United States President Barack Obama continued discussions with congressional leaders about the country's debt crisis problem.
Obama's spokesman, Dan Pfeiffer, said the president was discussing several options in a closed discussion with congressional leaders.
The U.S. government should increase their current budget deficit of U.S. $ 14.3 trillion, or about Rp122.000 trillion as of August 2 and pay the debt.
However, so far talks between the political parties have not reached an agreement even though Obama for U.S. warns time is running out.
Republicans have so far rejected Obama's proposal to raise taxes for rich Americans to increase the budget.
Republican politicians argued the plan will only turn off the investment and job growth.
In addition, the Republicans who control the House insisted it will not increase the budget deficit limit unless the Democrats agree to a massive budget cuts.


Budget cuts
Meanwhile, in his weekly, President Obama appealed to the American people had a role in addressing this economic crisis.
"All of us together to face this problem," Obama said.
"In fact, we can not overcome the economic deficit in the absence of budget cuts," Obama added.
However, Obama continued, the economic deficit would not be resolved without a tax increase for rich Americans.
"Moreover, the deficit could not be completed without closing loopholes that give corporations huge profits that can not be obtained the common people," Obama added.
Obama said it was considering cutting the budget but he wanted the Republicans also consider the matter of increased taxes.
Previously, the ratings agency Standard & Poor's lowered the credit standards of the U.S. due to further improve the chances of failure to pay the U.S. government.
Other agencies, Moody's warned it would cut its first triple-A credit standards for Washington.


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