8.02.2011

US debt limit: House votes on last-minute deal


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Democratic and Republican Senators weigh in on the budget plan

In a news conference, Mr Boehner was joined by other top Republicans as they lined up to urge their colleagues to support the plan, while acknowledging it did not meet all of their demands.

"It gives us the best shot that we've had in the 20 years that I've been here to build support for a balanced budget amendment," Mr Boehner said.

On Monday, the Congressional Budget Office (CBO) published its analysis of the deal, saying it would indeed save at least $2.3tn between 2012 and 2021.

Meanwhile, protesters were arrested earlier on Monday outside the House spectators' gallery, which overlooks the House floor.

"Boehner, get off it. It's time to tax corporate profits," demonstrators said.

US ‘a parasite’

Democrats and Republicans in Washington have been deadlocked over finding a way to cut spending and raise the debt limit as the deadline loomed.

In recent days Republicans, who control the House of Representatives, and Democrats, who control the Senate, have rejected each others' plans.

Japan, the second-largest foreign holder of US debt after China, hailed the deal. Beijing's state-controlled television called the package "more pomp and ceremony than substance".

Russian Prime Minister Vladimir Putin accused the US of being a "parasite" on the world economy by living through debt.

 54368013 us debt 464 US debt limit: House votes on last minute deal

source: bbcuk

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mejiku 02 Aug, 2011


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