US approaches $15 trillion debt limit - English

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us   united   states   america   approaches   15   trillion   debt   limit   economic   crisis   recession   bailout   rich   poor   disparity   capitalism   failing  

Within days-- the US will hit 15 trillion dollars in debt. That's fifteen with 12 zeroes behind it. The numeric milestone comes at a time when Americans as a whole have a distrust of Congress for how it spends their money. Across the country protests and public discontent is rising over federal spending from conservatives and liberals. Occupy protests that started at Wall Street in New York have spread across the country. They're angry with banks that received federal funds but insist on charging customers extra fees. They call it bank transfer day. In the Eurozone, President Obama spends time in Cannes, France, for the G-20 summit that takes place as Europe is trying to determine a bailout package for debt-ridden Greece. But while the president is overseas-he has to fight for a reelection battle back at home. republican rivals are pointing to the country's crawling economy and describe it as a result of weak leadership. And the US' struggling recovery was dealt another blow this week with a lackluster jobs report. U.S. employers hired an estimated 80,000 people last month, worse than economists expected. The unemployment rate only dropped a tenth of a percent down to 9 percent. Congress is still so divided that President Obama is trying to find ways to get the country moving by using executive orders instead of a preferred legislative process. Meanwhile, as lawmakers squabble the US debt steadily rises with the national poverty rate and the number of dissatisfied Americans.

Added by PTV on 20-11-2011
Runtime: 2m 20s
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