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    July 30 (Bloomberg) -- The Republican-led U.S. House rejected Senate Democrats’ plan to raise the U.S. debt ceiling, a symbolic vote in the congressional impasse three days before a threatened government default.

    The House voted 246-173 against Senate Majority Leader Harry Reid’s proposal to lift the $14.3 trillion debt limit by $2.4 trillion. This mirrored the Senate’s rejection of House Speaker John Boehner’s plan the night before.

    Reid and House Minority Leader Nancy Pelosi are to meet with President Barack Obama at 3:30 p.m. today, according to a White House official.

    Reid said his plan aims to attract bipartisan support because it includes no tax increases and would cut spending by the same amount as the debt-limit boost. As the Senate prepared for action on his plan late tonight or early tomorrow, Minority Leader Mitch McConnell said Republicans will block a vote on the Democratic leader’s measure.

    Republicans said the Democrats’ plan is unacceptable in part because it doesn’t ensure long-term deficit reduction, including cuts to entitlement programs. They also said it relies on a budget “gimmick” by counting as deficit reduction plans to bring troops home from Iraq and Afghanistan, while the Congressional Budget Office has counted the drawdown in its scoring of the financial impact of the plan.

    “We need to come up with a compromise,” said House Rules Committee Chairman David Dreier, a California Republican. The Reid bill “is not the plan that can gain broad support in the House and Senate.”

    House Republican leaders brought up the Reid plan under a procedure that requires a two-thirds vote for passage, unlike the chamber’s simple-majority handling of its own bill. No Republicans voted for Reid’s plan, and 11 Democrats voted against it.

    Process ‘a Joke’

    “This process has become a joke,” said Representative Jim McGovern, a Massachusetts Democrat.

    “It’s time for us to end this theater of the absurd,” said Pelosi of California before the House’s vote. “It’s time to get real.”

    The Senate is debating Reid’s proposal before a scheduled 1 a.m. vote tomorrow, even as informal talks continue on a bipartisan debt deal that can pass both chambers before the Aug. 2 deadline. A Senate vote on the plan could be held at about 7 a.m. on Aug. 1, while McConnell threatens to block it.

    Obama yesterday appealed to party leaders to forge a compromise, and so far hasn’t announced when he’ll meet with them next.

    The Senate yesterday rejected the debt-limit legislation that the Republican-led House had passed hours earlier with no Democratic support. That measure would have required congressional approval of a constitutional amendment to balance the budget and forced another debt-limit vote by lawmakers in about six months to continue the nation’s borrowing authority beyond early 2012.

    Taken ‘Hostage’

    Reid, a Nevada Democrat who offered modifications to an initial Democratic plan that he said were designed to attract Republican support, accused Republican leaders of rebuffing his efforts to negotiate.

    “Republicans have in effect taken America by hostage,” demanding policy changes they would never get in legislation,” he said. “Democrats are willing to sit down and negotiate. My door is still open.”

    “We’re missing Republicans,” said Senator Chuck Schumer, a New York Democrat, though with just days left to a possible Aug. 2 default, “that could change.”

    Financial markets were restrained in reacting to the Washington impasse yesterday.

    Treasuries rallied, sending yields on 10-year notes to the lowest level since November. The yield on 10-year Treasury notes declined 15 basis points to 2.79 percent in New York.

    Stocks fell as economic growth trailed forecasts. The Standard & Poor’s 500 Index slipped 0.7 percent and tumbled 3.9 percent this week for its worst slide in a year.

    Confidence ‘Slightly Eroded’

    Christine Lagarde, the new chief of the International Monetary Fund, said confidence in Treasuries is “slightly eroded” as politicians continue to squabble over the debt limit. “There was a positive bias toward the United States of America, toward Treasury bills,” Lagarde said in an interview on CNN’s “Fareed Zakaria GPS” to be broadcast tomorrow.

    “The current crisis is probably chipping into that very positive bias,” she said, according to a CNN transcript.

    The modifications Reid proposed in his plan yesterday bring it closer to one McConnell proposed earlier this month.

    Borrowing authority would be provided in two separate $1.2 trillion installments, one immediately and one in several months as the nation again nears its borrowing limit.

    All but the first $416 billion could be blocked through a joint resolution of Congress, though opponents would have to muster supermajorities in both chambers to override a veto.

    $2.2 Trillion Savings

    The new plan would yield debt savings of $2.2 trillion -- about the same as the total borrowing authority extended -- and call on a 12-member bipartisan congressional committee to draft legislation to lower the deficit to 3 percent or less of gross domestic product.

    Democrats control the Senate with 53 votes, and would need the support of at least seven Republicans to push Reid’s proposal closer to passage in the vote early tomorrow morning. McConnell said Democrats are short of the supermajority they need to force a vote on the measure because 43 Republicans have signed a letter opposing it.

    Senator Scott Brown, a Massachusetts Republican, said his staff has been working with Reid’s to put “more teeth” in the joint committee plan.

    ‘On the Brink’

    Senator Lisa Murkowski, an Alaska Republican, said “absolutist” lawmakers aligned with the Tea Party have put the U.S. “on the brink.”

    “I am really worried about where we are standing, and I think part of that has come about because you have individuals that say, ‘It is my way or the highway,’” Murkowski said in an interview at Bloomberg’s Washington office. “That is not how you govern.”

    Obama may invite congressional leaders back to the White House for more talks, according to a Democratic official. No decision has been made about further discussions between Obama and Democratic and Republican congressional leaders, said the official, who wasn’t authorized to speak publicly about the administration’s strategy.

    While Obama and Vice President Joe Biden have been in contact with lawmakers, as of late yesterday the president hadn’t spoken with Boehner for days, the official said.

    “If we don’t come to an agreement, we could lose our country’s AAA credit rating, not because we didn’t have the capacity to pay our bills -- we do -- but because we didn’t have a AAA political system to match our AAA credit rating,” Obama said earlier yesterday at the White House.

    ‘Rough Agreement’

    Obama said with Democrats and Republicans in “rough agreement” on plans to raise the nation’s debt limit within days of a threatened default, the time for compromise is “now.” The president and the Republicans used their weekly addresses on the Internet and radio to continue the debate.

    The House-passed plan was “unacceptable” and would mean another debt-ceiling extension in less than a year, Obama said today. “There are plenty of ways out of this mess,” he said, noting the parties aren’t that far apart on spending or how to tackle entitlements and the tax code. “But there is very little time.”

    Jon Kyl of Arizona, the second-ranking Republican in the Senate, said in the Republican address that Obama and the Democrats are “too committed to the European style of big government.”

    Still, he said, the consequences of missing the Aug. 2 deadline could be “severe,” with markets dropping in value and hurting Americans’ retirement savings. “Republicans believe we must solve our debt crisis, and we believe we can solve it if Democrats will work with us,” he said.

    Aug. 2 Deadline

    The Treasury Department has said the U.S. will breach its borrowing limit and run out of options for avoiding default if the $14.3 trillion debt ceiling isn’t raised by Aug. 2.

    Senate Budget Committee Chairman Kent Conrad expressed confidence that lawmakers will head off a default.

    “Work expands to fill the time. We certainly know that’s true here,” Conrad, a North Dakota Democrat, said in an interview on Bloomberg Television’s “Political Capital with Al Hunt,” airing this weekend. “Leaders on both sides are sufficiently responsible that they understand if there were a default, it would be a disaster for this country.”

    Talks for Deal

    Behind the scenes, Democratic officials said, talks on a potential deal centered on how to force future deficit-cutting by Congress, by setting up consequences -- such as automatic spending cuts or tax increases, or some combination of the two - - if the savings aren’t achieved.

    “If we need to put in place some kind of enforcement mechanism to hold us all accountable for making these reforms, I’ll support that, too, if it’s done in a smart and balanced way,” Obama said.

    The Treasury is preparing contingency plans to pay the government’s obligations should Congress fail to raise the borrowing limit in time. Carney said Treasury officials may reveal the plans this weekend.

    Federal Reserve Bank of St. Louis President James Bullard said a resolution of the debt-ceiling impasse may remove a key unknown that has restrained economic growth in the U.S. “Once this last uncertainty is resolved, the path to faster growth may be open,” Bullard said, according to prepared remarks for a speech yesterday in Jackson Hole, Wyoming.

    White House press secretary Jay Carney reiterated that Obama would accept a short-term debt ceiling extension of a few days only if needed to finish work on legislation lifting the limit for a longer period.

    Balanced Budget Amendment

    House Republican leaders revised their bill after failing to win enough support for a vote the previous night. It would allow a debt-limit increase now and require Congress to work out a second increase agreement within months. The second debt-limit increase would occur only if a balanced-budget constitutional amendment is passed by Congress and sent to the states.

    Representative Mo Brooks, an Alabama Republican, said the decision to include the balanced-budget amendment turned 10 to 20 Republican votes in favor of the measure.

    The House approved the measure 218-210, with no Democrats voting in favor. The Senate swiftly tabled a replica of the measure in a 59-41 vote, with all 51 Democrats joined by two independents and six Republicans in opposition.

  • #2
    Bonjour,

    Même s'il y a un accord de dernière minute il sera de toute façon à minima.

    Le mal est fait et la situation économique est très loin d'être brillante.

    Cordialement.

    http://www.boursorama.com/infos/actualites/detail_...

    Commentaire


    • #3
      Pourquoi ils sont en faillite, les Américains?
      Ils sont pris en otage par les Républicains. Des fous dangereux. On devrait les enfermer et les mettre à la camisole.


      2001-2009 : les années Bush ou l'envolée de la dette

      La décennie 2000-2010 est celle où la dette troue le plafond. En raison des attentats du 11-Septembre, des guerres en Afghanistan et en Irak et d'une croissance plus capricieuse que lors du deuxième mandat de Bill Clinton, le Congrès relève le plafond de la dette de... 4415 milliards de dollars en 8 ans ! Mais le contexte extraordinaire (guerres, sursaut patriotique) permet d'éviter une crise politique. L'escalade de la dette est impressionnante : de 5.900 milliards de dollars en 2001, le plafond passe à 6.700 milliards en 2002, 7.384 milliards de dollars en 2004, 8.965 milliards en 2006, 9.815 milliards en 2007, 10.615 milliards en 2008.

      Commentaire


      • #4
        un site déjà connu

        http://www.usdebtclock.org/

        Commentaire


        • #5


          Reset



          le système peut il se réinitialiser ?







          ou s'effondrer sur lui même ?

          Commentaire


          • #6
            Citation de : Saylor (au 31-07-2011 23:11:58)



            Reset



            le système peut il se réinitialiser ?







            ou s'effondrer sur lui même ?




            je ne pense pas que quiconque ait interet à ce que les us soit en faillite ou en défaut de paiement. Nous n'y sommes pas encore, attendons mi-2013/début 2014 pour cela. La crise viendra de l'Europe

            Commentaire


            • #7
              Citation de : Saylor (au 31-07-2011 23:11:58)



              Reset



              le système peut il se réinitialiser ?




              Oui, la preuve :



              But failing that, Obama could always just solve the crisis with a pair of magical platinum coins. Sure, that sounds preposterous, but Yale’s Jack Balkin argues that this is actually a perfectly legal strategy. Here’s the logic: Under law, there’s a limit to how much paper money the United States can circulate at any one time, and there are rules that limit how many gold, silver and copper coins the Treasury can mint. But the Treasury is explicitly allowed to mint however many platinum coins it wants and can assign them whatever value it pleases.

              So the Mint makes a pair of trillion-dollar platinum coins. The president orders the coins to be deposited at the Federal Reserve. The Federal Reserve moves this money into Treasury’s accounts. And just like that, Treasury suddenly has an extra $2 trillion to pay off its obligations in the near term without issuing new debt. If the Fed was worried about all that newly created money being pumped into circulation, it could always counteract the inflationary effects by selling off the $2 trillion in securities it owns from quantitative easing (thereby taking an equivalent amount of money back out of the economy). Problem solved. Right?
              http://www.washingtonpost.com/blogs/ezra-klein/pos...

              Commentaire


              • #8
                Reid Approves U.S. Debt Agreement Pending Approval From Democrats’ Caucus
                Q
                By Julie Hirschfeld Davis and Mike Dorning - Jul 31, 2011 11:18 PM GMT+0200

                inShare
                47More Print Email
                Enlarge image
                U.S. Senate Majority Leader Sen. Harry Reid (D-NV) speaks during a news conference July 30, 2011 on Capitol Hill in Washington, D.C. Photographer: Alex Wong/Getty Images
                Enlarge image
                Speaker of the House John Boehner and Senate Minority Leader Mitch McConnell hold a press conference on July 30, 2011 at the U.S. Capitol in Washington, D.C. Photographer: Karen Bleier/AFP/Getty Images
                Enlarge image
                President Barack Obama today said Republicans and Democrats are in “rough agreement” on their plans to raise the nation’s debt limit with just four days before a threatened U.S. default and the time for compromise is “now.” Photographer: Brendan Smialowski/Getty Images
                Senate Majority Leader Harry Reid has approved a tentative agreement with House leaders and the Obama administration to raise the U.S. debt ceiling pending approval by fellow Senate Democrats, according to a spokesman.
                “Senator Reid has signed off on the debt-ceiling agreement pending caucus approval,” Reid communications director Adam Jentleson said in an issued statement.
                Congressional leaders and the Obama administration negotiated to finish the details of the agreement to raise the debt ceiling, paving the way for possible votes in the Senate tonight and the House tomorrow on a plan to avert a U.S. default and calm market concerns.
                “We’re really, really close to an agreement, and we’ll let you know when we get it,” Senate Republican leader Mitch McConnell told reporters as he left the Senate chamber today. Earlier, he said Republicans and President Barack Obama had made “dramatic progress” on a compromise yesterday. Senate Majority Leader Harry Reid told reporters he hoped his chamber could vote on the measure tonight.
                After a weekend of discussions between Republicans and Obama’s team, House leaders were aiming to schedule action on the emerging compromise to raise the $14.3 trillion debt ceiling, cut spending by about $1 trillion, and call on Congress to shave another $1.8 trillion from long-term debt by year’s end -- or face punishing reductions across all areas of the government, including Medicare and defense programs.
                House Speaker John Boehner of Ohio was to brief rank-and- file Republicans later today, as negotiators worked to complete it and draft legislative language, a Republican aide said.
                Dollar Gains
                The dollar rose against the yen and the Swiss franc on optimism that U.S. lawmakers would reach agreement on raising the debt ceiling.
                The dollar rose to 77.27 yen as of 5:20 a.m. in Tokyo from 76.76 yen on July 29 in New York, a record low for a closing level. It bought 79.11 Swiss centimes from 78.55 last week, which touched a record low 78.51. The greenback was little changed at $1.4391 to the euro from $1.4398. The euro rose to 111.20 yen from 110.54.
                As negotiations continued, a Democratic plan backed by Reid fell short of the 60 votes needed to overcome Republican efforts to block it in the Senate. The vote was 50-49, with Reid switching his vote to “no” so he could bring the matter back for reconsideration -- a way of expediting a vote on a final compromise.
                Reid said he’s “cautiously optimistic” a deal can be reached. “We’re not there yet,” he said.
                The White House was cautioning that there still was no compromise. Communications Director Dan Pfeiffer said in a Twitter message that the two sides have “important issues to work out.”
                Plan Develops
                Under the emerging plan, a bipartisan congressional super- committee would be charged with coming up with the savings by late November, and its recommendations would receive expedited consideration and a certain vote by Christmas. Negotiators were still working to finalize details of the so-called trigger mechanism meant to ensure the deficit-reduction package materialized.
                With just two days left before the Treasury Department has said the nation would default without additional borrowing authority, both sides had made concessions in search of an accord. Republicans dropped their insistence on withholding some of the borrowing authority until future spending cuts had been made and a balanced budget amendment to the Constitution had been passed by both houses of Congress, according to a person familiar with the talks.
                Leadership Optimistic
                The White House agreed to forgo an automatic tax increase, a sticking point for Republicans, as one of the consequences to kick in if no debt-reduction law is enacted by Christmas, according people familiar with the discussions.
                “My sense is the leadership will step to the floor sometime later today and express greater optimism about this being resolved prior to Tuesday, and hopefully that will be enough to calm markets until that happens,” said Republican Senator Bob Corker of Tennessee.
                Both sides anticipated resistance from within their own ranks.
                ‘Very, Very Close’
                “I’m sure there will be both Democrats and Republicans who in the end find the agreement wanting in one way or another, but I believe there will be a strong bipartisan support for this,” McConnell, of Kentucky, said on CBS’s “Face the Nation” program. “This deal has not been finalized yet, but I think we are very, very close to something that I can comfortably recommend to” Republicans.
                Republican Senator Ron Johnson said he was “highly concerned” about the size of the cuts being discussed, saying they were too small to make a real difference in reining in the debt.
                “I’m afraid this is not going to fix the problem, and that’s the one reason I came here,” said Johnson, a first- termer elected with Tea Party support.
                Socially liberal groups and lawmakers expressed anger at the emerging package because it omits tax increases while cutting deeply into government spending and threatening still more reductions to safety-net programs such as Medicare.
                Working People
                “This deal does not even attempt to strike a balance between more cuts for the working people of America and a fairer contribution from millionaires and corporations,” Representative Raul Grijalva, the Arizona Democrat who leads the Progressive Caucus, said in a statement. “I will not be a part of it.”
                Under the framework begin discussed, Congress would be required to vote on a balanced budget amendment to the Constitution, and passage by both houses would be enough to avoid the automatic spending cuts threatened if Congress failed to enact the debt-reduction measure, the Republican aide said. Amendments require two-thirds majorities for passage; if enough Democrats oppose the measure, it would have little chance of winning approval.
                ‘Balanced Approach’
                Obama and congressional Democrats have insisted that any deal be a “balanced approach” that includes revenue, raising questions about whether the president would find substantial support from his party for the plan.
                “You’re going to have to have closing of tax loopholes. You’re going to have to have revenue produced to close the deficit,” David Plouffe, a special adviser to Obama, said on ABC’s “This Week.”
                McConnell, while saying on CBS that the agreement will “avoid raising taxes,” added that the deficit-reduction panel will have a broad mandate to “tackle tax reform” as well as entitlement programs.
                White House press secretary Jay Carney has said repeatedly that if a deal is reached, Obama would be willing to sign a short-term extension of the debt ceiling for several days if necessary to give Congress time to pass the agreement.
                Stocks fell as economic growth trailed forecasts. The Standard & Poor’s 500 Index slipped 0.7 percent and tumbled 3.9 percent this week for its worst slide in a year.
                Downgrade Threat
                Mohamed A. El-Erian, whose Pacific Investment Management Co. is the world’s largest manager of bond funds, was less optimistic. In an interview on ABC News “This Week,” he said that if Standard & Poor’s “sticks to what it said, it will downgrade” the U.S. debt following the deal.
                S&P, which has given the U.S. a top AAA ranking since 1941, said on July 14 that the chance of a downgrade within three months is 50 percent, and a reduction may occur as soon as August if there isn’t a “credible” plan to reduce the nation’s deficit.
                While the compromise shaping up will probably assuage immediate concerns about default in financial markets, “this relief will be short,” said El-Erian, PIMCO’s chief executive officer.
                The agreement “does nothing to restore household and corporate confidence, so unemployment will be higher than it would have been otherwise. Growth will be lower than it would be otherwise. And inequality will be worse than it would be otherwise,” El-Erian said.

                Commentaire


                • #9
                  Cliquez pour agrandir

                  Commentaire


                  • #10
                    Même si le rebond va saluer l'accord de cette nuit (à confirmer par le vote qd même), il n'en reste pas moins que les US sont en cessation des paiements ...et seul un état peut continuer à emprunter dans cette situation ... si le marché continue de lui prêter !!!

                    Commentaire


                    • #11
                      Citation de : HENRYK3 (au 31-07-2011 23:45:04)

                      Citation de : Saylor (au 31-07-2011 23:11:58)



                      Reset



                      le système peut il se réinitialiser ?




                      Oui, la preuve :



                      But failing that, Obama could always just solve the crisis with a pair of magical platinum coins. Sure, that sounds preposterous, but Yale’s Jack Balkin argues that this is actually a perfectly legal strategy. Here’s the logic: Under law, there’s a limit to how much paper money the United States can circulate at any one time, and there are rules that limit how many gold, silver and copper coins the Treasury can mint. But the Treasury is explicitly allowed to mint however many platinum coins it wants and can assign them whatever value it pleases.

                      So the Mint makes a pair of trillion-dollar platinum coins. The president orders the coins to be deposited at the Federal Reserve. The Federal Reserve moves this money into Treasury’s accounts. And just like that, Treasury suddenly has an extra $2 trillion to pay off its obligations in the near term without issuing new debt. If the Fed was worried about all that newly created money being pumped into circulation, it could always counteract the inflationary effects by selling off the $2 trillion in securities it owns from quantitative easing (thereby taking an equivalent amount of money back out of the economy). Problem solved. Right?
                      http://www.washingtonpost.com/blogs/ezra-klein/pos...




                      je n'ai pas bien compris cette stratégie avec le platine , si quelqu'un aurait la gentillesse de m'expliquer merci

                      Commentaire

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