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The USA averting of the insolvency



The time for an arrangement between Republicans and democrats about the solution of the debt crisis becomes dangerously scarce; if no compromise is achieved, the USA will be insolvent from the 2nd of August, 2011. Now aggravatingly still an internal quarrel comes among the Republicans: The Republican John Boehner, the president of the House of Representatives in which the Republicans own the majority could not persuade his fellow members on the Thursday evening of his plan to the averting of the insolvency of the USA. He intended that first savings are decided at the rate of approximately 900 milliard dollars and at the same time an increase of the debt limit by similar height. Afterwards other savings should be dismissed in the US household of 1600 milliard dollars. In particular the ultraright followers of the Tea party movement among the Republicans rejected this. Indeed, this plan could have achieved anyway no success, because the US head of government Barack Obama had already made clear that he would have inserted anyway his veto against the suitable law. He has explained this negative position with the fact that only at short notice this solution reached and became necessary thus next year renewed raising of the debt border. And he would like to avoid this under all circumstances, there not to load his position in the election campaign in 2012.

Should no arrangement be really achieved before the 2nd of August, one more “reprieve” to at most could be won with reservation cord and partial sales by gold reserves 10th of August. If this dramatic case should enter, the government then every day would have to meet a choice which her financial obligation she would like to fulfil: Pensions, health achievements, military expenses, interest and social benefits would stand to the arrangement. The results for the economy of the USA, her international respect and her creditworthiness would be catastrophic.