U.S. President Barack Obama in front of bailout budget challenge has come to pass . If the budget is not passed by October 18, the U.S. market and the U.S. economy slowly begins to be disrupted . What will happen to the markets around the world , it can be easily guessed .
What’s the matter
Because of opposition failed to pass this budget .
Objected to Obama Care
Republicans objected to the budget plan Obama ‘s ambitious health care . The plan has the most benefit to the elderly . The plan they can follow through the Internet . The government will take responsibility for the security of their entire health . Obama want to implement this plan . The budget has allocated additional funds for this project . Republicans say that the scheme should be deferred for at least one year , but Obama is not ready for it .
Credit limit and dispute
The Obama administration currently technically annual 16.7 trillion borrowing limit . Obama wants the Senate needed to raise the debt limit, allowing them . But Republicans are not willing to allow this . They are upset with Obama’s demand .
Where does U.S. debt ?
U.S. financial institutions , banks , corporations and takes loans from foreign institutions . It also pays the interest . The major countries, banks , financial institutions or loans from foreign investors that takes them from leading Hong Kong , China , Belgium , Luxembourg and Taiwan are included. Swiss bank debt of the United States whenever they need it.
Impact on India
More than 50 percent of India’s total trade with the U.S. is concerned . India’s foreign trade is $ axis only . In the case of foreign investment depends largely on the U.S. . Precarious the U.S. economy from the share market of India can create havoc in the Commodity Market . RS is capable of weakness round . The most important thing is that India’s growth rate may be affected .