Debt talk implode US Congress

On Capitol Hill, Congressman Eric Cantor and Senator Jon Kyl - both Republicans - walked out of meeting about raising the debt ceiling. Republicans have said since day one that tax hikes are off the table and talks of an increase this week led to the lawmakers leaving through the door. Vice President Biden has been meeting with lawmakers hoping to reach a deal by next week to raise the 14.3 trillion dollar debt ceiling before the Treasury department runs out of money. If Congress doesn't act by August 2 default could occur, which in turn would have crushing effects on the US economy and markets around the globe. Courtney Comstock, the editor of the Business Insider, joins RT's Kristine Frazao to talk about what that means for the US debt .Airmiles Card



Creditors move in and liquidate all possible assets the debtor has to mitigate the debt. Like in Greece, the vultures will be buying the entire country (airport, lottery, tourist industry, land, etc.) for pennies on the dollar. They literally take the sovereignty of country away from its people. Our wonderful military has been acting as the police of the bankster's (City of London) in their fraudulent take overs for decades. Now it's happening to us. It is time to pay back the piper.