13:55 16 October 2013
US Democrats have rejected a fiscal plan from the House of the Representatives two days before the deadline to raise the US debt limit. White House spokeswoman Amy Brundage, said: "Unfortunately, the latest proposal from House Republicans does just that in a partisan attempt to appease a small group of Tea Party Republicans who forced the government shutdown in the first place.”
As numerous attempts to avert a federal debt default run rings around congress, the Senate has took control. The Senate is democratic-controlled and is working on a bi-partisan deal to extend the federal borrowing limit until 7 February and fund the government to mid-January, which in effect gives everyone more time.
The White House rejected the House’s proposed amendments to President’s Barack Obama’s signature healthcare law. Obama has stated on numerous occasions that he won’t budge when it comes to his signature healthcare bill, Obamacare.
Obamacare was passed successfully back in 2010 and remained a central part of Obama’s 2012 presidential re-election campaign which he won somewhat comfortably. However, it has a massive amount of sway in the nation’s finances which is the primary reason for the republican standoff.
The news comes at a time when credit rating agencies have issued warnings that America’s creditworthiness will be downgraded.
It’s been bad for politics as well as both parties slid in the opinion polls during this fiscal standoff although republicans are most to blame according to the voters.
Disclaimer: Supanet is not responsible for, and disclaims any and all liability for the content of comments written by contributors to this website
x Share us on Facebook