US debt crisis

Moscow will continue dumping US debt, according to analysts who spoke to RT. Latest US Treasury Department data shows Russia cut its holdings by half in April.

More than a third of New York State’s food pantries have had to turn away people in need because they have run out of supplies. Food banks have been demanding an additional $16 million to replenish their stock.

The enormous outlay for overcrowded US federal prisons is forcing the White House to consider clemency and entreat non-violent, low-level felons serving terms for drug-related crimes to apply for early release.

The US Treasury on Friday was forced to enact ‘emergency measures’ after spending its borrowed time and money. By month’s end, Uncle Sam’s piggy bank will be down to just $50 billion, US Treasury Secretary Jacob Lew warned Congress.

Just one day after President Barack Obama signed into law a bipartisan deal to end the government shutdown and avoid default, the US debt surged a record $328 billion, the first day the government was able to borrow money.

The US has to reach a deal on its debt ceiling to avoid a catastrophe, and this crisis has to be solved by politicians, Peter Westin, chief equity strategist at Aton Capital, tells RT. Sadly, it’s US people that get stuck in the middle, he says.