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Losing faith: Global financiers look to de-Americanize

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View Ratings | Rate It Headlined to H2 10/15/13

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If the US misses the debt ceiling deadline of October 17 and stops paying its creditors, it would be the first major Western government to do so since Nazi Germany under Hitler in 1933, which wasn't able to pay its debts following World War I.

The US has a bank holiday Monday in honor of Columbus Day; however, after making little headway on solving the budget gap, both the Senate and the House held sessions on Monday. 

For Republicans, Obamacare has been a major stumbling block in agreeing to raise the debt ceiling, as they see the legislation as antithetical to their "small government' philosophy. 

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Next Page  1  |  2 is Russian television, which actually does a great job reporting on US news too.

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On the subject of raising the Federal debt ceiling... by Jeff Morton on Tuesday, Oct 15, 2013 at 4:33:05 PM