‘Super Congress’ expected to solve the debt deal
August 3rd, 2011 - 7:59 pm ICT by Aishwarya BhattWashington, Aug 3 (THAINDIAN NEWS) The United States is going all length to ensure that the country get out of the current debt crisis. The country’s lawmakers are currently locked up in negotiations to find a lasting solution to the problem that promises to shake the very foundation of the United States’ economy.
After meeting the deadline to avert the first-ever debt default in the history of the country, US lawmakers have voted to form what is called the Super Congress to ensure that the country doesn’t go to that length again in the near future. The future though doesn’t look that good as far as saving the economy is concerned.
The Super Congress will be bipartisan comprising of leading members from the two main political forces in the United States: Democrats and Republicans. The membership will be made up of six Democrats and six Republicans and they have been tasked to come up with a plan by the end of work on the 23rd of November. The final plan will be the blueprint which will help the country to stay out of debt crisis in the future by introducing cuts which will drive the budget deficit down.
The Super Congress is a condition in the new law which raised the US debt ceiling.
- Boehner & Reid working on debt plans - Jul 26, 2011
- US President gives a 36-hr 'debt deficit' deadline to the US Congress - Jul 18, 2011
- Obama signs deal to avoid catastrophic US default (Lead) - Aug 03, 2011
- US debt talks reach an impasse - Nov 22, 2011
- Obama touts possible bipartisan pact on debt limit - Jul 20, 2011
- Deal reached with Republicans on raising debt ceiling: Obama - Aug 01, 2011
- US House of Representatives passes debt-limit bill - Aug 02, 2011
- Economic crisis looms as Obama returns from Asia - Nov 20, 2011
- Failure to raise debt limit could trigger slump: Obama - Jul 07, 2011
- US avoids default; retains AAA rating for now - Aug 03, 2011
- Obama, congressional leaders announce deal to raise debt ceiling, cut spending - Aug 01, 2011
- Top Republican Congressman confident of deficit deal - Oct 16, 2011
- Obama taking economy to tipping point: Bobby Jindal - Aug 05, 2011
- US loses AAA credit rating, terms it 'a facts-be-damned decision' (Lead) - Aug 06, 2011
- Obama asks Congress to solve debt crisis - Jul 24, 2011
Tags: blueprint, budget deficit, congress, debt ceiling, debt crisis, debt deal, debt default, democrats and republicans, lawmakers, negotiations, united states economy