Translated material
The US State Jolly Ceil is getting closer
US public debt Closer February 10, 2014, Maxim Blanc 
In the USA, the next season of the political series “Improving the Ceiling of the State debt” started. It began traditionally - with the letter of the secretary of the Treasury (Minister of Finance) Jacob Lew speaker of the House of Congress representatives John Beiner. Such letters of the head of the financial department in Congress have become a long tradition, and the text does not carry anything new in itself. Lew warns that the borrowing limit set by Congress at the level of 17.3 trillion dollars is almost exhausted, the amount of public debt reached 17.2 trillion. The treasury is ready to hold out until February 27. It will ensure the continuity of payments at the expense of "emergency measures". Then the treasury will only have cash - about $ 50 billion, which will be quickly spent. And then the country is waiting for the technical default.
A absolutely no one believes in the possibility of the US technical default, if only because no policy can take responsibility for the universal disaster that will follow this. Nevertheless, the Republicans who control the House of Congress representatives will be traded until the last minute hoping to put pressure on the Obama administration and force the government to reduce government agents, and ideally abandon the financing of the Obamacare health reform of health reform.
Democrats will with all their might beat off the attacks of the Republicans, simultaneously accusing them of destabilizing the financial system and provoking the government crisis. For the last time, the confrontation in the Congress, due to the ceiling of the public debt and the budget, was no further than last fall, and the political struggle resulted in a full-fledged government crisis with a stop of the work of a number of government institutions, unpaid leave of civil servants, increased volatility in financial markets and (also traditional) concern of Chinese leadership of the reliability of the American currencies.
Everything will end without going beyond tradition. The struggle for the Congress will reach the climax a day or two before the last deadline, after which party leaders and representatives of the administration will begin to convulsively look for a compromise, which will allow you to get out of an unpleasant situation, "preserving the face" of all participants. Last year, Obama proposed to completely cancel the legislative statement of the upper ceiling of the public debt, but the Republicans voluntarily from their most effective tool for influence on internal economic policy would not refuse under any circumstances. So the Limit of the public debt this time will be increased, but far from so significant as the democrats and the presidential administration would like.
And this means that the gun hanging on the wall in the congress will hang up to the end of the series, in which it will still be unknown how many seasons.
Photo by ITAR-TASS/ Maxim Nikitin
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Maxim Blanc -
Konstantin Sonin: Obama follows consistently logic: you cannot increase the debt without the new consent of the Congress.
Evgeny Yasin: They need to decide on measures very unpleasant for any government ...
