GO
Loading...

Enter multiple symbols separated by commas

Will the US Debt Ceiling be Raised by Aug 2?

Republicans and Democrats have until August 2nd to reach a deal on raising the $14.3 trillion debt ceiling. The Senate canceled its planned July 4 recess and lawmakers are racing against the clock to avert a debt default.

Lawmakers have been unable to reach a consensus, with Republicans and Democrats sharply divided over spending cuts and tax hikes. Republicans want Democrats to agree to $2 trillion in spending cuts and not to hike taxes. They've walked out on talks led by Vice President Joe Biden.

Meanwhile Democrats are looking at a scaled-back deal, which would raise the debt ceiling and buy enough time until after the 2012 Presidential election. Some analysts are worried that the game of brinkmanship between the two sides could lead to a default, even if it is for a few hours. Ratings agencies have warned that such a 'technical default' would hurt the U.S.'s Triple-A rating.

Time is running out and we want to know whether you think there's enough political will for a deal to be done in time.

Vote
Vote to see results
Total Votes:

Not a Scientific Survey. Results may not total 100% due to rounding.

Contact Asia News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Asia Video

  • Will Greece have to print its own currency?

    With Greece running dangerously low on cash, failure to clinch a deal on Sunday will leave Athens with little choice but to introduce a form of second currency, says Jay Bryson, global economist at Wells Fargo Securities.

  • Ideal time for stock picking in small caps: Pro

    Amid the surge in volatility across global markets, Eric Marshall, co-portfolio manager at Hodges Small Cap Fund, likes small-cap stocks which are immune to currency fluctuations and geopolitical risks.

  • How Macau's losing streak is impacting its citizens

    Many of Macau's residents turn to jobs in the gaming industry for better income, but how will the slowdown in the city's casino industry affect them? CNBC's Eunice Yoon finds out.