United States

Drift lines also Americans in the bankruptcy? Timothy Geithner is actually one ehr optimistic man. He must be perhaps as Finance Minister of the world’s largest economy. Nevertheless, Geithner these days little positive words for the State budget in the United States. Already weeks ago he testified: “I the Congress once again strongly urge, to raise the statutory debt ceiling.”. Otherwise, catastrophic economic consequences would”threaten. Because Geithner seems to be that the United States slowly assume the finance is secure.

Looking at the hole in the budget of the United States, which probably will gape in the coming year, the gloomy picture of Geithner is quite understandable. The incredible sum of $1.65 trillion is missing from the coffers. These are all 11 percent of what the United States provide the year’s economic performance. If one reads against the pads by the Maastricht Treaty in the EU in ver gel I do this; Here, 3 percent are more than allowed. For Barack Obama, it will be one of the biggest challenges, the it in his tenure as President to come and while he has currently still with a lot of political Saber Rasselei to fight. Republicans hold strong, however, the discussion on raising the debt limit for tactical purposes to use. But if Geithner to be believed, this is a dangerous gamble with the time and the ability to pay of the United States. While the Democrats and the Republicans already on the cuts in budget negotiations, and Obama has already signaled he was open to suggestions from savings; on the political stage, an increase in the debt ceiling is discussed still to come without cuts in the budget.

Democrats call this a political trick”which should increase only the pressure on the President. Much but not more time for such political infighting. Geithner predicts that the United States on August 2 the finances go out. And that the world’s largest economy goes bust, the white one should also in Europe, with all means be avoided. Lena Cook