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Thursday, 17 October 2013

US default: Lagarde tells America to get its finances in order

Posted on 04:21 by Unknown
Now, despite the usual annual Tea Party of the US wrestling with Self Created Spoiled Brat Deficits, the world is facing Up and talking Down to the Imbeciles let loose to run this charade of an economy.

No one can fix it until it crashes.

Entire states are 60% dependent for jobs on Defense creating planes no one needs and mothballing them. Weapons killing the world in Self Perpetuating madness. No one cares, Until the Golden Goose stops laying as she will. Then- What about me??????

We have to crash it.We have to smash it. We have to cut ALL Military spending by at least 50% and Cull 90% of ALL Agencies.


America spends more money on useless Military than the whole world put together does. America IS the cause of most wars.


So when it all DOES end, as it WILL, where then? Friendless in the world, try building trade when all doors are closed to you.


How many will die, when the great lie ends?

In 7 years this Illegal Wookie has achieved what? 7 years of American decline, all to line the pockets of Cabal and Criminal swine!



  • IMF head Christine Lagarde welcomes the end of the shutdown, but warns the US it must achieve stability
 
The Telegraph
By Josie Ensor
and Raf Sanchez
17 October 2013

The International Monetary Fund appealed to Washington for more stable management of the nation's finances after US leaders agreed to avoid a debt default and end a 16-day government shutdown.

With only hours to spare until the $16.7 trillion debt limit was reached, Congress passed and sent a waiting President Barack Obama legislation Wednesday night to allow more government borrowing and reopen public agencies.



Christine Lagarde, IMF managing director, welcomed the deal but said the shaky American economy needs more stable long-term finances. The deal only permits the Treasury to borrow normally through Feb. 7 and fund the government through Jan. 15.

"It will be essential to reduce uncertainty surrounding the conduct of fiscal policy by raising the debt limit in a more durable manner," Lagarde said in a statement.

America's paralysing two-week political crisis came to an end on last night as Congress voted through an eleventh-hour deal to re-open the government and avert a devastating debt default.

After 16 days of government shutdown and only 24 hours before the deadline to raise the debt ceiling, both the Senate and House of Representatives voted through a compromise bill.

President Barack Obama promised to "immediately" sign the bill into law and begin re-opening the government and putting hundreds of thousands of federal workers back on the job for the first time since October 1.

The shutdown is estimated to have taken a $24 billion (£15 billion) toll on the US economy while the brinkmanship over the debt ceiling prompted the Fitch rating agency to put America on "rating watch negative" ahead of a possible downgrade.

The deal came after Republicans relented on demands for a roll back of Mr Obama's signature healthcare law and the votes in Congress exposed a wrenching divide between hard-line conservatives and their more moderate colleagues.

In the House of Representatives 144 of its 232 members voted against the bill in defiance of the party's leadership. A group of 18 Republican senators, including Ted Cruz, the Texas firebrand seen as the architect of the shutdown, voted against with 27 Republicans in favour.

The deal will keep the government open until January 15 and lift the debt ceiling until February 7, allowing a window for the Senate and House to negotiate a more long-term solution.

Speaking from the White House after the Senate vote, Mr Obama said he wanted "to thank the leaders of both parties for getting us to this point".

"Once this agreement arrives on my desk, I will sign it immediately," the president said. "We'll begin re-opening our government immediately, and we can begin to lift this cloud of uncertainty and unease from our businesses and from the American people."

He said he hoped that Congress could abandon its habit of negotiating "in the eleventh hour" and "governing by crisis".

In an oblique reference to the Tea Party congressmen who pressured their leaders into taking a stand against Obamacare, the president said he hoped lessons would be learned "not just by me but also by Democrats and Republicans, not only the leaders but also the rank and file."

As members of Congress drifted away from the US Capitol angry recriminations were already beginning among Republicans in both chambers.

Mr Cruz accused Senate Republicans of acting like an "air force bombing our own troops" for not supporting House Republicans in their demands for concessions on Obamacare in return for re-opening the government.

"We saw the House of Representatives stand with courage and listen to the American people," he said on the floor of the Senate. "I ask you to imagine a world in which Senate Republicans united to support House Republicans."




But some House Republicans turned on the Texas senator, accusing him of leading the party down a path that never stood a real chance of success.

"He’s the guy that caused this, he’s the guy who is a fraud because he never had a strategy to begin with," Peter King, a Republican moderate, told Buzzfeed.

In the House a majority of Republicans voted against their leader, John Boehner, who has struggled to control his fractious caucus. The rebels included 11 committee chairmen, who are usually expected to back the leadership.

Tea Party activists also expressed their fury at what they saw as a cave-in by the Republican leader. "We need a leader that doesn't start with surrender as a negotiation technique," Ron Wilcox, an organiser of the Northern Virginia Tea Party, told The Telegraph.

However, Mr Boehner appears to be safe in his hold on the post of speaker, reportedly receiving a standing ovation from members earlier in the day and leaving a caucus meeting with his fist pumped in the air.

The Senate Conservatives Fund, a group devoted to electing conservative senators, tore into Mitch McConnell, the Republican senate leader, for a provision in the bill that would increase funding for a dam project in his home state of Kentucky. "It's the Kentucky Kickback," the group said in a statement.

Beginning on Thursday, the US federal government will begin to creak back into action for the first time in more than two weeks.

Around 800,000 federal workers - ranging from Senate aides to NASA scientists, White House gardeners to judicial court staff - will begin going back to work.

National parks, monuments and museums across the nation will re-open, giving a welcome respite to the tourism industry.

And some of the federal government's more obscure operations - like an online camera that monitors the pandas at Washington's National Zoo - will be switched back on.


original article found here
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