The meeting will continue in an attempt to find a compromise deficit reduction and increase the maximum limit of U.S. debt. | |
| Presiden Barack Obama dan Ketua DPR AS dari partai Republik, John Boehner (kiri) dalam pertemuan di Gedung Putih |
Members of Congress plan to meet today with President Barack Obama in the White House for the fourth consecutive year, in an attempt to find a compromise that Congress passed a deficit reduction increases the national debt limit and avoid the possibility of America's debt payment arrears.
On Tuesday, Republican faction leaders in the Senate, Mitch McConnell, said it is possible settlement of the long-term budget problems will not be achieved, and consider the idea of President Barack Obama to deficit reduction as a fantasy. Instead, he proposed that the President use parliamentary tactics to raise the debt ceiling without the support of Republican faction.
McConnell advice was issued after a coalition of companies sent a letter to the President and Congress who warn that failure to pay debts will cause a powerful impact on the economy, and called it the risk that should not be accepted.
The letter said the two sides need to achieve long-term agreement on cutting its budget deficit to stimulate investment and job creation.
President Obama told CBS television Tuesday that he could not guarantee there will be money to fund the pensions that will be sent to the retirees on 3 August, unless agreement can be reached with a faction of the Republic of the difficult budgetary problems.
President Obama wants to reach an agreement before the deadline in order to give Parliament time to discuss and approve the move. He promised negotiations every day until agreement is reached, but the party of President Obama, the Democratic and Republican opposition is still far from agreed.
President Obama proposed a package of four trillion dollars in cuts to reduce expenses and increase revenue while Republicans said they would not approve tax increases and wants to focus only on cutting government spending.
President Obama said in a press conference, it was time to stop playing politics and deal making. He said he would refuse to sign temporary measures to resolve the debt crisis.
On Tuesday, Republican faction leaders in the Senate, Mitch McConnell, said it is possible settlement of the long-term budget problems will not be achieved, and consider the idea of President Barack Obama to deficit reduction as a fantasy. Instead, he proposed that the President use parliamentary tactics to raise the debt ceiling without the support of Republican faction.
McConnell advice was issued after a coalition of companies sent a letter to the President and Congress who warn that failure to pay debts will cause a powerful impact on the economy, and called it the risk that should not be accepted.
The letter said the two sides need to achieve long-term agreement on cutting its budget deficit to stimulate investment and job creation.
President Obama told CBS television Tuesday that he could not guarantee there will be money to fund the pensions that will be sent to the retirees on 3 August, unless agreement can be reached with a faction of the Republic of the difficult budgetary problems.
President Obama wants to reach an agreement before the deadline in order to give Parliament time to discuss and approve the move. He promised negotiations every day until agreement is reached, but the party of President Obama, the Democratic and Republican opposition is still far from agreed.
President Obama proposed a package of four trillion dollars in cuts to reduce expenses and increase revenue while Republicans said they would not approve tax increases and wants to focus only on cutting government spending.
President Obama said in a press conference, it was time to stop playing politics and deal making. He said he would refuse to sign temporary measures to resolve the debt crisis.
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