MACTV News Capital Hill: Representative Sheila Jackson-Lee (D - TX) Says Debt Ceiling Must be Raised for US to Continue its Obligations to Africa

Exclusive Interview: Congresswoman Sheila Jackson-Lee talked with MACTV President Menelik Zeleke

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United States Rep. Sheila Jackson Lee (D-TX 18th District) says the United States needs to raise its debt limit so as to allow it continue to reach out developing countries especially in Africa.

In an exclusive interview with MACTV, the Congresswoman who represents Texas in Congress said that both parties need to agree on bipartisan basis so as not to put the world’s largest economy at risk of default and downgrade of its status. She told MACTV if the U.S. default of its obligations to raised the debt ceiling limit it will have major impact on the crises facing drought stuck Horn of Africa where hundreds of thousands of people risk starving to death.

According to Jackson, due to the inability for both parties to agree the global markets have been negatively affected with the Dow Jones dropping over 200 points, just as Asian markets have also recorded dramatic drop.

This, she pointed out is not good not only to the developed markets,but most especially for the developing markets that leverage on the growth indices of the advanced markets.

The Congresswoman told MACTV that instead of an opportunity for both parties to unite and move the economy, she is rather shocked to hear individuals saying no surrender, a language she said, is not appropriate for the American people.

Commenting on the activities of the tea party, the Congresswoman said it is unfortunate that they are trying to play game with the nation’s economy saying that will precipitate a global financial crisis which no one needs at a time like now.

“We need to be focusing on what is best for America now,” she noted.

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MACTV News Capital Hill: U.S. debt deal not close, Senator Reid says

July 30, 2011 10:22:08 PM

  USA-DEBT/REID-DEAL (URGENT)

WASHINGTON, July 30 (Reuters) - U.S. Republicans and Democrats are not close to a deal to raise the debt ceiling despite what Republican leaders may say, Senate Democratic Leader Harry Reid said on Saturday.

"It's fair to say that the engagement there is not in any meaningful way," Reid said on the Senate floor shortly after returning from a meeting with President Barack Obama. "Republican leaders still refuse to negotiate in good faith."

All south Somalia slipping into famine - U.N., Posted by Meosha Eaton

LIBOI, Kenya, July 29 - The whole of drought- and conflict-wracked southern Somalia is heading into famine as the Horn of Africa food crisis deepens, the United Nations said on Friday.

In a report for countries sending aid, the U.N.'s umbrella humanitarian agency OCHA said the "crisis in southern Somalia is expected to continue to worsen through 2011, with all areas of the south slipping into famine."

Democrats try to break U.S. debt impasse, Posted by Meosha Eaton

(Reuters) - Senate Democrats aimed to seize the initiative in efforts to head off a ruinous U.S. debt default by pushing their deficit-cutting plan on Saturday towards a possible compromise with a divided Republican Party.

Entrenched differences were still hampering a compromise as Democratic leaders accused their Republican counterparts of obstructionism, less than 100 hours before the government says it will run out of money to pay all its bills.

U.S. growth anaemic, debt row poses recession risk, Posted by Meosha Eaton

(Reuters) - The U.S. economy stumbled badly in the first half of 2011 and came dangerously close to contracting in the January-March period, raising the risk of a recession if a standoff over the nation's debt does not end quickly.

Output increased at a 1.3 percent annual pace in the second quarter as consumer spending barely rose, the Commerce Department said on Friday. In the first three months of the year, the economy advanced just 0.4 percent, a sharp downward revision from the previously reported 1.9 percent gain.

MACTV News: U.S. House of Representatives Part 2, Posted by Menelik Zeleke

Part 2

MACTV News: U.S. House of Representatives, Posted by Menelik Zeleke

Part 1

What is happening in the debt crisis, Posted by Meosha Eaton

(Reuters) - Here is what is happening on Friday as lawmakers scramble to close in on a deal for Congress to raise the U.S. government's $14.3 trillion borrowing limit by an August 2 deadline and avoid a debt default:

* President Barack Obama says in a televised statement that if the United States loses its AAA credit rating it won't be because the country can't pay its bills. It would be "because we didn't have an AAA political system to match our AAA credit rating." He urges the public to let lawmakers know they want a bipartisan compromise that can pass Congress.

Lawmakers' votes open way for final debt push, Posted by Meosha Eaton

(Reuters) - Lawmakers opened the way on Friday for a last-ditch bid for a possible bipartisan compromise to avert a crippling national default just four days before the deadline to raise the country's debt ceiling.

The Republican-controlled House of Representatives approved a Republican deficit-cutting plan and the Democratic-led Senate quickly rejected it -- moves that underscored the ideological divide but also cleared a path to start negotiating a deal.

Republican rebels force new delay in US debt crisis, Posted by Meosha Eaton

* House puts off vote on Republican measure

* Boehner plan faces opposition from party rebels

* Tuesday deadline looms to avert risk of U.S. default

* Obama administration: Americans want compromise

* House Republicans to meet on Friday morning (Adds Chinese comments)

By Andy Sullivan and Richard Cowan

WASHINGTON, July 28 (Reuters) - Urgent efforts to avoid an unprecedented U.S. debt default suffered a new blow on Thursday when some fiscally hardline Republicans blocked a budget deficit plan proposed by their own congressional leaders.

After hours of trying to get enough votes, the Republicans who control the House of Representatives put off action for the night and scheduled an emergency meeting for Friday morning.