US politicians have been locked into negotiations about reducing the country’s discrepancy, with the two sides unable to agree a tax and spending package as the possibility of a debt default becomes visible. So what are the fair rules in such a situation? The risk could not be higher.
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Current talks at the White House to try to rupture the stalemate over the US national debt have broken up without agreement. President Obama and congressional leaders have agreed to resume the talks, which ended after 75 minutes, on Monday.
Democrats and Republicans remain far away from each other on a wide range of issues regarding budget talks aimed at prevention a threatening default on US government debt, President Obama has said.
President Obama and congressional leaders have met at the White House in a bid to discuss the budget as a government shutdown becomes visible. Republican House Speaker John Boehner and Democratic Senator Harry Reid were expected to deliver a joint statement. The talks have been on hold for days, with Republicans pushing far larger spending cuts than Democrats are willing to give in.