On the 11th day of government shutdown, US President Barack Obama says he is willing to sign a short-term credit limit increase outside any budget pressure from the Republicans.
Looming default
Jay Carney, presidential spokesman said that the President’s word came in the wake of talks about ending the double fiscal problem of the United States and its possible repercussions to the world’s financial status. The country will certainly undergo default if the increase in credit ceiling is not approved by the 17th of October. Carney emphasized that to avoid the risk of double fiscal crisis, White House will approve a decent increase in the borrowing limit, but with no demands from the Republican representatives. He asserted that the government shutdown is not doing any good to the people and there is no justifiable reason for it to continue.
No compromise
From the first day of the government shutdown, the White House has been firm on its no compromise policy. It constantly reaffirmed that it would not give in to any sabotage on the Obamacare law from the opposing Republicans. If the government shutdown will end, it will have to be upon the initiative of Republican votes to bar the impending crisis that will likely happen if the government shutdown does not come to a halt very soon. Carney also strongly opposed the Republicans’ proposal of passing a bill covering a 6-week term to increase the borrowing limit of the government in the meantime that more comprehensive budget plans are still pending.
Not the right way
The White House spokesman believes a 6-week credit limit increase term can only last so long, and might not even be long enough to cover Thanksgiving Day. Carney focuses on the upcoming holidays and shopping season that might experience a shaky situation with an uncertain economy at the helm, saying it is not the right way to go. The failure of the House to agree on fiscal allocation has caused the present deadlock that largely affected thousands of government employees who were forced to go on leave with no pay. The Republicans would pass the new budget if Obama and the Democrats consented to eliminate the funding of the 2010 Healthcare Reform Law.
Fixing the mess
From the Republican side, Senator Susan Collins said Friday that Obama has signified interest in the senator’s plan to fix the crisis. Collins’ plan is to remove taxes for medical devices that are intended to augment insurance funds for the President’s healthcare law. The senator however said that despite Obama’s acknowledgement of her plan, the President clearly does not validate the negative implications of the medical device taxes that she underscored. Nonetheless, Collins expressed opinion that Obama admits the taxes are not the only sources of funds for Obamacare and that revenues from other areas when made available, may replace the taxes.
Reopening of national parks and monuments
Meanwhile, the tourist attractions that closed when government shutdown started will soon resume operation. The Grand Canyon, Mount Rushmore and the Statue of Liberty will be reopened to public albeit under state financial support. Other monuments and national parks will however stay closed until the deadlock is resolved.
Facebook
Twitter
Pinterest
Google+
LinkedIn
Email