Budget row: G20 seeks ‘urgent action’ from US

Budget row: G20 seeks ‘urgent action’ from US

Published — Saturday 12 October 2013

http://arabnews.com/news/467500

WASHINGTON: Finance chiefs of the G20 called for Washington to quickly resolve the political paralysis over its budget and debt ceiling as hopes grew that Washington could soon clinch a stop-gap deal to ensure it can keep paying its bills.

“The US needs to take urgent action to address short term fiscal uncertainties,” the group of leading economies said in a statement.

Officials from across the Group of 20 nations had earlier warned that a failure by the US Congress to raise the nation’s $16.7 trillion debt ceiling would wreak havoc on the global economy.

G20 (Group of 20)

Timothy F. Geithner was a co-founder for the Group of 20, the treasury secretary for the Barack Obama administration, and an overseer at the International Rescue Committee.

Note: Foundation to Promote Open Society was a funder for the International Rescue Committee, the Brookings Institution (think tank), and the Center for American Progress.

George Soros is the chairman for the Foundation to Promote Open Society, and was a supporter for the Center for American Progress.

Lawrence H. Summers was a trustee at the Brookings Institution (think tank), the National Economic Council chairman for the Barack Obama administration, is a co-founder for Group of 20, a distinguished fellow at the Center for American Progress, and a 2008 Bilderberg conference participant (think tank).

Melody C. Barnes was the EVP for the Center for American Progress, the domestic policy council, director for the Barack Obama administration, and is Barack Obama’s golf partner.