American Paralysis: "Never again!" Warned Treasury Secretary
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| The U.S. Treasury Secretary Jack Lew in Washington October 10, 2013 (Photo Mandel Ngan / AFP / File) |
The
U.S. Treasury Secretary Jack Lew warned Sunday that fiscal paralysis of
the federal government and the debt crisis had hit the world's largest
economy and that the experience was "never " happen again.
" Our economy is struggling to produce good growth to create jobs for Americans and we went in the wrong direction ," said the Minister on the NBC television , referring to the budget crisis that has blocked the federal government for 16 days in October and default that almost hit the United States.
"It's a little scary because it happened close to the precipice ," said Mr Lew . " We must ensure that the government is no longer on the tightrope. Never again ," he told the Treasury secretary .
Under a torn in extremis Congress Wednesday to avoid a default of the country, the legal limit setting the maximum amount of U.S. debt agreement is not effective until February 7. The Treasury is temporarily open new markets to borrow to meet its financial obligations.
By February , Republicans and Democrats will have to find an agreement on the ceiling and the 2014 budget to fund the government and avoid a new part after that which ended Wednesday after 16 days of paralysis closure.
Despite this crisis, Mr. Lew has repeated his " confidence in the economic recovery " American .
On October 8, the International Monetary Fund (IMF ) estimated that the economy of the United States , " constrained by budget cuts size " had continued to grow " modestly " in 2013 but might deteriorate slightly lowering its forecast growth this year ( 1.6 %) and next year (+2.6 %).
" Our economy is struggling to produce good growth to create jobs for Americans and we went in the wrong direction ," said the Minister on the NBC television , referring to the budget crisis that has blocked the federal government for 16 days in October and default that almost hit the United States.
"It's a little scary because it happened close to the precipice ," said Mr Lew . " We must ensure that the government is no longer on the tightrope. Never again ," he told the Treasury secretary .
Under a torn in extremis Congress Wednesday to avoid a default of the country, the legal limit setting the maximum amount of U.S. debt agreement is not effective until February 7. The Treasury is temporarily open new markets to borrow to meet its financial obligations.
By February , Republicans and Democrats will have to find an agreement on the ceiling and the 2014 budget to fund the government and avoid a new part after that which ended Wednesday after 16 days of paralysis closure.
Despite this crisis, Mr. Lew has repeated his " confidence in the economic recovery " American .
On October 8, the International Monetary Fund (IMF ) estimated that the economy of the United States , " constrained by budget cuts size " had continued to grow " modestly " in 2013 but might deteriorate slightly lowering its forecast growth this year ( 1.6 %) and next year (+2.6 %).
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