WASHINGTON (AFP) - three days before the US public debt reached its legal limit, US Treasury Secretary Timothy Geithner urged lawmakers to raise the ceiling to ensure confidence remains in the largest economy in the world.
"On Monday, May 16 - just three days of today ' hui - the United States will reach the debt limit set by Congress," Geithner said.
"I want to again encourage Congress to move as quickly as possible, so that all Americans will remain confident that the United States will meet all its obligations - not only our interest payments, but also our commitments to our elders"he says."
Republicans in Congress refused to raise the ceiling of the national debt, which today is 14,29 billion, unless they can get the White House and its democratic supporters to agree to sweeping long-term spending cuts.
The administration of President Barack Obama said they could agree to the cuts, but they also require some tax increases to increase revenues.
The limit will hit next Monday after the auction of debt for the Department of the Treasury of this week are set.
Geithner said that the failure of Congress to act in time appropriate to raise the ceiling of the debt, the Treasury Board has begun a series of extraordinary measures which will give the legislature more time to raise the ceiling and to avoid a failure of Government to its obligations.
Earlier this month, Geithner said that, because of the Government's revenues were running higher than expected, and by reducing debt problems, the Government could delay the day of judgment on August 2 before spending commitmentsincluding debt service, requires more borrowings.
We reserve Federal Ben Bernanke, Chairman warned politicians Thursday to increase the limit of debt soon or risk destabilizing the financial system.
With the Government still need to borrow to finance its huge budget deficit, Bernanke told a Senate Committee that "using the debt as a currency of Exchange limit is very risky."
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