The US economy is currently experiencing its worth financial crisis since the Great Depressions. According to my research, in the Mid-October, the United States will only have $30 billion cash on hand. the United States would not make all of its payments unless Congress raises the debt ceiling. However, “Republican House Speaker John Boehner vowed on Sunday not to raise the US debt ceiling without a “serious conversation” about what is driving the debt.”

Boehner also asserted that US is on the path to default if Obama won’t negotiate. At the same time, “Democrats said it was irresponsible and reckless to raise the possibility of a US default.”Republicans and Democrats blame each other for the financial crisis. If these two parties don’t reach an agreement in a short time, the US’s credit is at risk, which may result in severe consequences, even worse than 2008 economic crisis. It is better for both Republicans and Democrats cooperate together, and solve the crisis at first. After all, they are not willing to see US to lose its international leading position.

http://usa.chinadaily.com.cn/world/2013-10/07/content_17011738.htm