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Obama believes fiscal crisis will be resolved soon

October 16, 2013, 6:39 UTC+3
The White House and the Republican opposition are also holding talks on the problem of the US national debt
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Photo EPA/JIM LO SCALZO

Photo EPA/JIM LO SCALZO

NEW YORK, October 16 (Itar-Tass) - The American politicians will manage to resolve the fiscal crisis shortly and avoid the country's debt default, President Barack Obama told the ABC television network on Tuesday.

"My expectation is it (fiscal crisis) does get solved but we don't have a lot of time," Mr. Obama said. He also pointed out that he had been repeatedly cautioning the lawmakers in Congress about the need to address the arisen problem, and "not do a lot of posturing"

The fiscal crisis, which arose owing to acute ideological disputes between Congress and the White House, has been going on in the US since October 1. The leaders of the Republican opposition that has the House of Representatives under its control is so far dovetailing the adoption of necessary decisions with political concessions on the part of the Administration which, in its turn, does not go to such concessions.

The White House and the Republican opposition are also holding talks on the problem of the US national debt. If a bill about raising the debt ceiling, which is currently set at $16.7 trillion, is not adopted urgently, the country may go bankrupt as early as on October 17.

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