The political atmosphere of the US is “ugly,” and the Republicans need to compromise to rescue the country from its default dilemma, a columnist says.
The Republicans need to agree on “including some tax increase revenue, [as] increasing the revenue is a big enough deal that both parties can support,” said Brent Budowsky in an interview with press TV.
He raised concerns about the fact that there are “some right-wing republicans who are against the very idea of compromise,” stressing that this makes it difficult for the government to reach any deal.
The US debt ceiling is capped at USD14.3 trillion, up from USD10.6 trillion when Barack Obama took office in 2009. The administration says the government would default on its obligations if the problem is not resolved by August 2.
The Democrats and the Republicans have been holding talks on how to curb the massive debt but have failed to reach any agreements.
Budowsky believes the Republicans will finally reach an agreement before August 2 since they all understand the “catastrophe” that will hit the country “if they don't act.”
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