Thursday, October 17, 2013

U.S. Bankruptcy rescued by law to increase the national debt by February 7th and renewal of funding.

U.S. Bankruptcy rescued by law to increase the national debt by February 7th and renewal of funding.

Washington's failure to save the "last minute" by law to increase the national debt by February 7th and renewal of funding.
Congress approved the report prepared by the Republicans and Democrats act when both the House of Representatives voted in favor of the text. The Senate adopted the agreement with the lariat 81 " for" and 18 "against" , and the lower house of parliament passed the bill with 285 votes " for" and 144 "against" .
U.S. President Barack Obama promulgated immediately after the approval of Congress.
It is assumed that in this period the Democrats and Republican opposition to agree on the parameters of the budget for fiscal year 2014 has already begun in the U.S. on October 1, and medium-term measures to reduce government spending .
President of the House of Representatives, John Boehner , Republican of Ohio , earlier urged Republicans to support the compromise : " We fought well but did not win ," - declared Boehner , whose party wanted Democrats political concessions on health care reform President Obama in exchange for raising the debt and the adoption of the budget.
The Act provides for payment of wages retroactive to the hundreds of thousands of government employees who were affected by technical unemployment after 1 October.
Budgetary paralysis in the U.S. will cost the U.S. economy $ 24 billion . According to the rating agency "Standard & Poor's " partial closing of federal offices will reduce by 0.6% growth in the U.S. during the fourth quarter of 2013. This rate is equivalent to 24 billion dollars.
Economic research has shown that during the Obama of the United States have suffered substantial damage to the economy from one financial crisis to the next.
Uncertainty in the financial policy and reduced consumption cost the U.S. economy annually 1% of its growth since 2009 .
Continuous decision making last-minute issues such as government spending and taxes has led to the loss of more than 2 million jobs and make the unemployment rate by 0.6 % higher than what would be normally .
The role of the dollar as the leading reserve currency is already compromised , and the money supply and the Chinese yuan, the yen and the euro higher , but none of these currencies have not had to offer liquidity close to the dollar.
The euro was the main option, but is under pressure from the deep problems of the eurozone.
The share of the dollar in global currency reserves declined in recent years amid the current crisis.
In U.S. currency still denominated 62% or 3.72 trillion. dollars of global foreign exchange reserves totaling 6 trillion. dollars , according to the IMF.
In the early 50 -ies of XX century the share of the dollar in global money supply was 90 % and is now around 15%.
In the long term the dollar will continue to lose ground , although the resolution of the current crisis in the U.S., because the trust is shaken.
Do not forget that China has asked for a " new world order" and a new world liberated by the Americans .

Germany a little closer to the coalition. Social Democrats waive taxes for the wealthiest .

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