Preliminary inter-party compromise budget agreement reached by congressional leaders, said the Minister of Finance Jacob Lew. According to him, the agreement will be valid for two years and raise the debt limit.
WASHINGTON, 27 Oct. The Minister of Finance of the USA Jacob Lew reiterated Tuesday the conclusion of a bipartisan congressional deal on the Federal budget. According to him, the external debt ceiling, the U.S. will be raised to an adequate level until 2017.
“As you know, congressional leaders have reached a major cross-party compromise on the provisional budget deal. This agreement will be valid for two years, raise the debt limit, and our obligations will be executed”, — he said, speaking at Bipartisan Policy Center.
However, Lew has criticized some parts of the agreement. For example, the reduction of the program of financing medical care for the elderly he called a “difficult situation”. In addition, the Minister hurried to the Congress with the budget because the debt ceiling will be reached in a week to 3 November.
The U.S. Treasury has asked the Congress to agree on raising the threshold of foreign debt in the mid March to 18.1 trillion dollars. At that time the national debt has already “hit the ceiling”, but before the end of the fiscal year due to a number of extraordinary measures the U.S. government is seeking the necessary funds for financing the needs of the state. Letters with requests to raise the limit, the Ministry of Finance sends each month.
A day earlier, White house spokesman Josh earnest refused to comment on leaked information about the tentative budget agreement, refusing to comment on the document that finally agreed.