May 16 the U.S. has reached its maximum level of public debt

According to Bloomberg, U.S. Treasury Secretary Timothy Geithner warned that unless Congress steps are not taken, then on May 16 the U.S. has reached its maximum level of public debt, losing the opportunity to raise funds to finance government spending. According to Geithner, Treasury will release additional reserves that may help by giving some respite, just before the start of July. "The longer Congress hesitates, the more likely that investors at home and abroad will begin to lose faith in our ability to perform its tasks and obligations", - said in a letter to the Minister, sent to Congress. "A default could cause a financial crisis, which will be stronger than the one after which we are only beginning to recover now," - he writes. As reported by The Wall Street Journal, this week Republicans will be working on a bill aimed at reducing government spending over the next 10 years (estimated reduction of 4 - 5 trillion dollars) and restricting the activities of public health insurance Medicare, which, of course, affect the conducted recently by President Barack Obama reform American health care. Discussion about the budget problems at an impasse. Perspective is the cessation of the normal funding of state programs, starting with next Saturday. The parties intend to agree, and find a common position on the budget until April 8 (Friday), but has not yet made significant progress.