Republicans want to raise debt limit

Republicans want to raise debt limit

There is a light at the end of the tunnel: after a bitter dispute over the debt limit in the USA, a possible compromise is emerging in washington. Republican leaders announced thursday they plan to raise the U.S. Debt ceiling in the short term. The advance came just hours before a scheduled meeting with U.S. President barack obama, who had been summoned to the weibe house for urgent talks.

A short time later, the white house expressed delight at the announcement, which came after a weeks-long dispute over the U.S. Budget. The republican advance is an "encouraging sign," said weiben house spokesman jay carney. Obama would prefer a long-term solution, though, carney said. But it is clear to all involved that the postponement of the ominous deadline of october 17. October has at least taken the fiscal explosive out of the debate for the time being.

"The president is pleased that cooler heads seem to be prevailing in the house of representatives," carney said. Apparently, politicians in congress have come to recognize that the threat of default in as little as a week is not a solution. The USA has already come dangerously close to this so-called "default". It has had devastating consequences for the U.S. Economy, as well as a severe impact on financial markets. Warnings from different parts of the world to not play with fire were getting louder and louder in washington.

The republicans, who debated behind closed doors on thursday morning, seem to have bowed to public pressure to some extent. According to a report in the "new york times", leading companies have now threatened to withdraw their donations in the millions if the limit is not raised in time.

Whether the proposal will actually be signed into law, however, is unclear. Obama has signaled that he will agree to a short-term increase in the limit. But the design had to pass the senate and the house of representatives first. And by no means all of the 433 deputies are predictable in their voting behavior. And a concrete design has not yet been presented by the "grand old party" to the weiben haus.

In the past few days, US media have repeatedly tried to calculate whether the votes would be sufficient to raise the limit. Republican parliamentary leader john boehner, who had to bring the bill to a vote, is seen as the final figure. As recently as sunday, he had said in a tv interview that it would not come to that. The fact that boehner, together with important representatives of his party, appeared before the press and now offered this temporary deal, was interpreted by the "wall street journal" as a "breakthrough".

But even if the deeply divided parties agree on such a transitional solution, the question of the U.S. Debt ceiling is still not off the table. Because, according to the TV channel CNN, the talk is only of four to six weeks, over which the limit was raised. So as early as november, the looming deadline was once again on the horizon. The speaker of the weiben house said that the republicans would indeed make an offer. "But they will keep the nuclear weapon in their pocket."


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