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U. S. Republicans and Democrats reach a compromise on budget and debt ceiling

October 16, 2013, 20:37 UTC+3

The presidential administration and the parliament have less than 24 hours to finalize the process

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Photo AP/J. Scott Applewhit

Photo AP/J. Scott Applewhit

WASHINGTON, October 16. (Itar-Tass) – Leaders of Democrats and Republicans in the U.S. congress managed to reach an agreement to raise the debt ceiling and reopen the government, said Kelly Ayotte, New Hampshire Republican.

According to CNN, the proposed scenario which is aimed to bring the United States out of the crisis entails financing Federal Government until December 15. By then the agreement to raise the debt ceiling until February 7, 2014, is expected to be reached.

Harry Reid, United States Senator from Nevada, Democrat and Senate Majority Leader, has announced that a deal has been reached.

The anti-crisis plan, after coordination with Senate leaders, will have to be approved by both houses of the Parliament. Then it will have to be signed by the U.S. President.

The presidential administration and the parliament have less than 24 hours to finalize the process. Otherwise, by Thursday, the government of the wealthiest world power may for the first time in history face technical default. 

Obama administration and Republican leaders in Congress have failed to agree on the issue of government funding, House of Representatives Speaker John Boehner after the meeting at the White House.

On October 1, 2013, the United States federal government entered a shutdown. This happened due to the cessation of budget financing in connection with the start of a new fiscal year. The debate on the budget between the U.S. administration and Congress has stalled - largely because of differences in principle on a new system of healthcare in the country - the so-called Obamacare programme.

The crisis has already partially affected international markets.


ИНФОГРАФИКА: US government shutdown

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