According to the rules valid currently the debt ceiling is reached on the 16th of May. The Ministry of Finance wants to take from this week “unusual measures”.
The US Ministry of Finance arms itself for the achievement of the debt ceiling applying currently of the country on the 16th of May. Because a timely increase is not by the congress by view, the ministry from this week will take “unusual measures”, explained Minister of Finance Timothy Geithner on Monday in Washington. With it it should be enabled to the government, also without being able to record increase currently with about 14.3 milliards dollar (9.6 milliards euro) horizontal margin still till the beginning of August new debts.
Specifically the Ministry of Finance according to the entries from Friday wants to stop the expenditure of the certain government bondses about which federal states and local administrative domains are exonerated financially. Geithner said, this will signify for the governments on location hardship. Indeed, “now” the Ministry of Finance must be to prevent a financial hemiplegia of the USA. Moreover, breakdowns with US government bondses would have “catastrophic economic effects”, warned Geithner.
The congress must agree to a projection of the debt ceiling, otherwise the government may display only the money which she earns. The Republicans have already announced to raise only the margin if US-president Barack Obama promises other shortenings. Already about the budget for 2011 democrats and Republicans had delivered to themselves a bitter analysis. The expected budget deficit of the USA for this year lies with 1.6 milliards dollar what corresponds to just eleven percent of the economic performance.