Debt ceiling deadline: no solution in sight
The US now has just a month to agree on raising the 14.3 trillion dollar debt ceiling, which the country has already blown through. The Treasury reaffirmed the August 2 deadline today as the drop-dead date before the US defaults on its debt. Still, politicians are playing chicken with the debt ceiling, which is making investors like the Chinese nervous. While some say trying to cut a deal with the debt ceiling is a scare tactic, others argue the US wouldn't "really" default, leaving a huge question mark about what could happen. Les Leopold, economist and author, is joining RT's Lauren Lyster to discuss the issue.
Follow Lauren on Twitter: http://twitter.com/LaurenLyster
The US now has just a month to agree on raising the 14.3 trillion dollar debt ceiling, which the country has already blown through. The Treasury reaffirmed the August 2 deadline today as the drop-dead date before the US defaults on its debt. Still, politicians are playing chicken with the debt ceiling, which is making investors like the Chinese nervous. While some say trying to cut a deal with the debt ceiling is a scare tactic, others argue the US wouldn't "really" default, leaving a huge question mark about what could happen. Les Leopold, economist and author, is joining RT's Lauren Lyster to discuss the issue.
Follow Lauren on Twitter: http://twitter.com/LaurenLyster
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