URGENT UNITED STATES: THE TREASURY DEPARTMENT SUSPENDS PAYMENTS TO AVOID BANKRUPTCY SOVEREIGN U.S.
Posted: 16 May 2011 The officer found the suspension of budgetary investments in two major pension programs funding a sure cure, albeit temporary, to keep the debt growing.
The drastic measure will facilitate the administration of Barack Obama go to new benefits abroad and thus refinance payments expected for the next period. Of not having been adopted, the executive and legislative powers would have to agree to raising the debt limit in a fixed time within the next two and half months, ie before August 2, as stated on several occasions both President Obama, as his treasury secretary. For their part, Republicans in Congress stipulated its approval to the measure during the recent debates, with substantial reductions in costs of 
demanded the White House.
Geithner, of course, does not consider the late payment of pension funds as a permanent reduction, but as a temporary measure to delay the danger of a breach of statutory payments and, therefore, the U.S. bankruptcy . UU. Meanwhile, one of the independent Congress, Joe Boner of Alabama, the only one representing the Union Party
in the House of Representatives reported that "no real progress observed" in solving the problem.
The net volume of assets acquired by foreign investors, according to Geithner's statement, downsize in March at 3,200 billion compared with February (27,200 million to 24,000 million). It is emphasized that for the fifth consecutive month China was the most reduced state subsidies in the U.S. state financial sector.
Moreover, the secretary of the Department dismissed the likelihood of defaults in the near future retirements and pensions due to suspension transfers to state compensation funds. Only predicts the depletion of these funds for 2036, one year ahead of schedule, he said.
The tense situation that is developing between the authorities is not unique in the history of American country's budget. Similarly lawmakers postponed extending the debt ceiling for several months in 1985 and again in 2002. And both times the negotiation process led to some remarkable concessions on spending.
The practice of arranging the legal limit increase in debt has been part of the system of contention and balances in American politics. The first time that Congress had to adopt the federal debt limit to circa late
World War I, at that time the administration of Thomas Woodrow Wilson (1913-1921) issued a series of long-term bonds on the occasion of U.S. income. UU. to war, to finance its war effort.
However, Barack Obama admitted on Wednesday that the country runs the risk of a recession worse than that suffered in 2008 if Congress does not raise the debt ceiling allowed. In a meeting with the president warned voters: "If global investors think the credit and good faith of EE. UU. is not supported, if they think we can deny our credit commitments, the entire financial system could collapse. "
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