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Wednesday, October 2, 2013

The Federal Shutdown : Impacts Domestic Economy Badly

The second shutdown in the history of America is really a war between the political parties which is affecting the Nation as a whole and thereby the economy. As many workers are asked to leave their desks indefinitely and without pay, there is a serious crisis coming into the American economy and if this goes long term it will have a global effect as well.

Photo: nbcwashington.com

The differences in ideology is the one blamed for the current shutdown in United States. Barrack Obama in a recent press meet said "This Republican shutdown did not have to happen -- I want every American to understand why it did happen," Obama said.

"They have shut down the government over an ideological crusade to deny affordable health care to millions of Americans."

The issue started when the Republicans opposed the funding of Obamacare, thelandmark health care law that President was to announce. The fight is supposed to be over the large funding that may be required if the Obamacare health plans roll out. In response to this argument, the Republican House Speaker John Boehner, meanwhile claimed Obama was pursuing a "scorched earth" policy by refusing to negotiate, as the rhetoric hit new heights and hopes for a swift end to the standoff faded.

"Washington Democrats have slammed the door on reopening the government by refusing to engage in bipartisan talks," Boehner wrote in an opinion piece in USA Today.

Many of the federal institutions and monuments are currently shutdown following this event, including the monumental statue of liberty. The staff appointed directly by the government are forced to leave their jobs and stay on leave until the crisis gets over.

"We know that the last time Republicans shut down the government in 1996, it hurt our economy. And unlike 1996, our economy is still recovering from the worst recession in generations," the president said.

Although the current crisis is not supposed to have a global impact as recession as this is considered more as a domestic crisis. However the stocks of American shares have shown a slight downside. As for IT contractors, this shouldn't be a cause of worry as well, the recent events will not be directly affecting the software industry.

Shared From Times Of India

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- Unknown Updated at: Wednesday, October 02, 2013

Saturday, September 28, 2013

India And US Agreement On First Nuclear Civilian Power

The recent visit of Dr. Manmohan Singh, Prime Minister of India has been fruitful as it is after a span of 3 years that the two countries are planning a big deal. The recent reports suggest that India and US have arrived at a first commercial deal for civilian Nuclear Power. Addressing the Media later, President Barrack Obama said

"We've made enormous progress on the issue of civilian nuclear power, and in fact, have been able to achieve just in the last few days an agreement on the first commercial agreement between a US company and India on civilian nuclear power,"

Manmohan Singh also discussed issues like terrorism and financial crisis with Obama, and two were able to arrive at agreeing points. Manmohan Singh also requested the US president to reconsider the visa policies so that the IT firms and professionals do not find it difficult to proceed with their projects.

PM also appreciated Obama on his strong grounds against terrorism and the steps that United States government has been taking to prevent this. Manmohan Singh also mentioned that Pakistan continues to be the central head of terrorism in Asia and he was looking forward to the talks with Nawaz Sharif later this Saturday to discuss this further.

“I look forward to the meeting with ... Nawaz Sharif even though the expectations have to be toned down,” Singh told reporters in the Oval Office after the meeting.

Singh told Obama India was facing difficulties because the “epicenter of terrorist activity remains focused in Pakistan”.

The Prime Minister and Nawaz Sharif is due for a meeting in New York this Saturday where the UN General Assembly is due to be held.

Courtesy: Hindustan Times(Input n Photos)

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- Unknown Updated at: Saturday, September 28, 2013

Tuesday, June 18, 2013

World : New hope for Syria as Putin and Obama Agrees to push peace talks

Russian President Vladimir Putin and U.S. President Barack Obama say their “opinions do not coincide” on the bloody Syrian civil war but they’ve agreed to “push” the Assad regime and opposition forces back to the negotiation table for peace talks.

Putin and Obama emerged late Monday from a two-hour bilateral meeting at the G8 summit in Northern Ireland to announce they still don’t see eye-to-eye on the Syrian conflict, but they’re both committed to reducing escalating violence and use of chemical weapons.

“Of course, our opinions do not coincide, but all of us have the intention to stop the violence in Syria and to stop the growth of victims and to solve the situation peacefully, including by bringing the parties to the negotiating table in Geneva. We agreed to push the parties to the negotiating table,” Putin said through a translator following his bilateral meeting with Obama.

“We do have different perspectives on the problem, but we share an interest in reducing the violence, securing chemical weapons and ensuring they are neither used nor are they subject to proliferation, and that we want to try to resolve the issue through political means, if possible,” Obama said.

“And so we have instructed our teams to continue to work on the potential of a Geneva followup to the first meeting.”

The two leaders also released a joint statement saying they have agreed to hold a U.S.-Russia summit in Moscow on Sept. 3-4, 2013, to “discuss in greater detail the full range of bilateral and international issues.”

Both sides have reached an understanding on a “positive agenda for relations between our countries” that includes arms control, non-proliferation, international security, trade, responding to global threats, countering terrorism and militant extremism, says the statement.