WASHINGTON ‘ IMF chief Christine Lagarde warned Tuesday the clock was ticking on a US debt deal, as the dollar slid to new lows amid concerns of a looming and unprecedented default by the world’s top economy. With a week to go before the United States hits an August 2 deadline when the government runs out of funds to pay its bills, Congress remained deeply divided on raising the $14.3 trillion debt ceiling. In a solemn late night address to the nation on Monday, Democratic President Barack Obama hit out at what he called a “dangerous game” being played by rival Republicans. “We can’t allow the American people to become collateral damage to Washington’s political warfare,” Obama said, warning…
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Posted by
on July 26, 2011. Filed under