Tuesday

America on the brink

America on the brink Agencies | Aug 1, 2011, 06.43AM IST



US Prez Barack Obama hasn't slept for a week, say
aides.The rest of the world, too, is having nightmares about a possible US debt default

What is the crisis about?

Since 1917, the US Congress has stipulated that there has to be a statutory
limit on US public debt (debt of US federal govt).This limit has been
periodically raised and now stands at
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