US government shutdown enters second week
(VOVworld) - Washington is no closer to ending the federal government shutdown, which entered its second week Monday, as Democrats remain unmoved by refocused GOP efforts to reach a broader budget deal.
A woman gives the thumbs-down while posing for photos in front of a barricade preventing access to the World World II Memorial as the partial government shutdown enters day six on Oct. 6, 2013, in Washington, D.C. Photo: Getty Images
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The political crisis in Washington was shifted to the US debt ceiling, which poses a dangerous threat to the US and world economy. According to US Treasury Secretary Jack Lew the US must increase its debt ceiling by October 17 or face the possibility of defaulting on its debts when they reach 16.7 trillion USD. Lew urged Republicans in the US House of Representatives to rise above ideological affiliations in order to agree on a temporary spending bill for the 2014 fiscal year that would reopen suspended federal government activities by allowing the Department of the Treasury to borrow more money. Last week, Christine Lagarde, Managing Director of the International Monetary Fund, said that increasing the US debt ceiling by October 17 is a critical task.