Us Debt Crisis

Republicans have damaged US economy, credibility: Obama

President Barack Obama on Thursday blasted Republican opponents who he said had damaged America's economy and credibility, issuing a stern rebuke from the White House after a prolonged standoff that forced a government shutdown and threatened default

Failure to cut debt will jeopardise US security: Panetta

US Defence Secretary Leon Pannetta has expressed displeasure over the congressional super-committee's failure to reach a consensus on the debt reduction plan. US faces nearly $1.3 trillion deficit in the fiscal year by September.

Debt Crisis