http://news.linktv.org Link TV News Videos (Filtered by topics: US debt) en-us Thu, 08 Nov 2012 09:02:00 -0800 Copyright 2011 Link Media, Inc. http://news.linktv.org/videos/obama-returns-to-washington-to-face-fiscal-cliff?start=0 With the election won, it's back to work for US President Barack Obama. Shortly before returning to the White House, he called leaders from the rival Republican party, who control the House of Representatives, to discuss the so-called "fiscal cliff" -- the point at which taxes are scheduled to increase while federal spending will be cut by more than $100bn, what experts say is a recipe for recession. Al Jazeera's Patty Culhane reports from Washington on how Democrats and Republicans remain at odds on how to tackle it. Thu, 08 Nov 2012 09:02:00 -0800 http://news.linktv.org/videos/obama-returns-to-washington-to-face-fiscal-cliff Fiscal cliff, Barack Obama, US economy, Harry Reid, John Boehner, Government budget deficit, US debt, Tax cut, Government spending, Tax With the election won, it's back to work for US President Barack Obama. Shortly before returning to the White House, he called leaders from the rival Republican party, who control the House of Representatives, to discuss the so-called "fiscal cliff" -- the point at which taxes are scheduled to increase while federal spending will be cut by more than $100bn, what experts say is a recipe for recession. Al Jazeera's Patty Culhane reports from Washington on how Democrats and Republicans remain at odds on how to tackle it. http://news.linktv.org/videos/fact-checking-paul-ryans-rnc-speech?start=0 Laying out the first plans for his party's presidential ticket, GOP vice presidential nominee Paul Ryan took some "factual shortcuts" Wednesday night when he attacked President Barack Obama's policies. Thu, 30 Aug 2012 11:49:00 -0700 http://news.linktv.org/videos/fact-checking-paul-ryans-rnc-speech 2012 Republican National Convention, Paul Ryan, Automotive industry crisis of 2008–2010, General Motors, Barack Obama, Patient Protection and Affordable Care Act, National Commission on Fiscal Responsibility and Reform, Medicare, Politics of the United States, Janesville, Wisconsin Laying out the first plans for his party's presidential ticket, GOP vice presidential nominee Paul Ryan took some "factual shortcuts" Wednesday night when he attacked President Barack Obama's policies. http://news.linktv.org/videos/reaction-health-care-law-making-problems-worse?start=0 Mitch McConnell, the Senate's minority leader, says the president's health care law is making life harder for Americans, and has yet to solve any of the problems it was designed to tackle. Thu, 28 Jun 2012 09:18:00 -0700 http://news.linktv.org/videos/reaction-health-care-law-making-problems-worse Patient Protection and Affordable Care Act, Mitch McConnell, US health care reform, Supreme Court of the United States, Tax, Health insurance, Politics of the United States, Health care, Barack Obama, Medicare Mitch McConnell, the Senate's minority leader, says the president's health care law is making life harder for Americans, and has yet to solve any of the problems it was designed to tackle. http://news.linktv.org/videos/what-proportion-of-us-tax-dollars-pay-for-war?start=0 US radio host Dennis Bernstein and investigative reporter Dave Lindorff illustrate just how much US tax money goes towards the country's war chest: "People have to realize that 53 cents of every dollar that they are paying into taxes is going to the military." Mon, 18 Jun 2012 15:45:00 -0700 http://news.linktv.org/videos/what-proportion-of-us-tax-dollars-pay-for-war Military budget, Military budget of the United States, US Budget, US economy, Tax, Pentagon, US debt, US Department of Defense, US Armed Forces, US Department of Veterans Affairs US radio host Dennis Bernstein and investigative reporter Dave Lindorff illustrate just how much US tax money goes towards the country's war chest. "People have to realize that 53 cents of every dollar that they are paying into taxes is going to the military to an astonishing figure there is an enormous, enormous amount of money being blown on war an killing and destruction." http://news.linktv.org/videos/is-economic-power-shifting-from-us-to-china?start=0 As the effects of the US debt crisis continue to be felt in markets around the world, LinkAsia asks China expert Robert Kapp if the current situation could lead to a power shift from west to east. Mon, 15 Aug 2011 16:33:00 -0700 http://news.linktv.org/videos/is-economic-power-shifting-from-us-to-china World economy, 2011 US debt ceiling crisis, China, US debt, Economy of the People's Republic of China, Economy of Asia, US Treasury security, United States, LinkAsia As the effects of the US debt crisis continue to be felt in markets around the world, LinkAsia asks China expert Robert Kapp if the current situation could lead to a power shift from west to east. ----- The economic slowdown in the United States has fueled speculation that a fundamental change is underway in the global economy, as power shifts from the U.S. to China. To help us to understand what’s going on, we’re joined today by Bob Kapp. For ten years Bob was president of the US-China Business Council, and he now runs a consulting firm based out of Washington state. Bob is also an adviser to LinkAsia. Why would a downgrade of American debt have such a big impact on Asian markets? I think the downgrade is obviously related to other things we’ve seen in the U.S. including the endless battle over the deficit and the political stalemate that that showed. And Asia, including China but also including most of the rest of Asia does not feel good if the US economy and the policies behind it seem to be paralyzed. So what underlines it all really is an uncertainty that the United States is going to be able to see it’s way and think it’s way out of its problems which is not good for any Asian economy. China owns more U.S. debt than any other country in the world. Why has China had such a big appetite for U.S. treasury bonds, and will the downgrade have any impact on its appetite for U.S. debt going forward. The reason China likes treasury bonds is that they are traditionally an extremely safe investment. The reason China can buy so many is that it has vast amounts of dollar holdings, which it has accumulated largely through foreign trade, and through its famous trade surpluses with the United States. Now when the U.S. economy and the value of the dollar begin to get a little less certain, China says, “wait a minute, we own a trillion dollars worth of this stuff, and if the dollar is going to lose value we’re going to lose big time”. So they may think about other things to do with the dollar such as investing in other forms of investments in the United States; property, businesses and so forth. But at the bottom, there really isn’t any other economy in the world or any other place to put as many dollars as China has amassed, so it’s not automatic despite some grey rhetoric that the Chinese are going to walk away from their investments here. A lot of observers have been looking to China to be the world’s engine of economic growth. Do you believe that China has the ability to prevent the world from falling into recession? Yul, I think this is magical thinking. I think the answer is no. I mean on the one hand, in America many people think that China is sort of going to come over the hill and take over the United States or end American life as we know it, etcetera etcetera. And on the other hand we say well maybe they can to save us and save the world economy. Neither is remotely likely and I think we should all try to avoid that kind of magical thinking. A lot of experts have also been predicting that the United States, their economic turmoil and especially the downgrade will hasten the rise of China as being the world’s foremost economic superpower. What do you think about that? Have we finally hit that tipping point? It’s certainly a different world than 40 years ago when after World War II the United States was really the only great economy in the world. And China’s advent as a huge economic power both on the trade side and the consumption of raw materials from global sourcing and so forth, has been a major development in the world economy which automatically means the United States doesn’t have the same position in the world as it did twenty or thirty years ago. That’s just a fact it’s not that they did that to us, it’s the way it is. But really when it comes to deciding who’s heavier on the seesaw, there are people in both countries that predict either doom or triumph. The Chinese tend sometimes to predict triumph we tend to predict doom, it’s not a question of one doing it to the other. If the United States is losing vital power in the world, it’s more because of what we don’t do for ourselves-- we don’t improve our infrastructure, we don’t educate our kids, we don’t understand the nature of the competitive challenge that we’ve got. There are lots of ways in which the United States and its political stalemate and its ideological stalemate seems to be unable to grasp what it must do in order to compete successfully in a competitive world. And ask the world not to compete, because we might be the world’s only remaining superpower, is really asking too much of the rest of the world. Robert Kapp is a former president of the US-China Business Council. http://news.linktv.org/videos/shares-plunge-on-wall-street-and-around-europe?start=0 The turmoil continues on the world's financial markets. After gains today in Asia, Wall Street plunged in early trading as investors reacted to the state of the US economy and high levels of public debt there, and Europe quickly followed suit. Wed, 10 Aug 2011 09:59:00 -0700 http://news.linktv.org/videos/shares-plunge-on-wall-street-and-around-europe Federal Reserve, Financial market, World economy, Wall Street, European sovereign debt crisis, US economy, Euronext Paris, US debt, Dow Jones Industrial Average, Economy of France The turmoil continues on the world's financial markets. Wall Street plunged in early trading; at one stage in the first hour the Dow Jones Industrial Average was almost four percent lower. That was one day after the US central bank, the Federal Reserve, tried to revive confidence by pledging to keep interest rates there at a record low for the next two years. That caused a rebound yesterday but the effect did not last with investors full of fear about the state of the US economy and high levels of public debt there. http://news.linktv.org/videos/debt-deal-neither-side-got-what-they-wanted?start=0 US Senate Majority Leader Harry Reid has said neither side got what they wanted from the deal announced yesterday to raise the US debt ceiling. Leaders worked Monday to align lawmakers from both parties behind their formula for averting a financial meltdown. Mon, 01 Aug 2011 12:24:00 -0700 http://news.linktv.org/videos/debt-deal-neither-side-got-what-they-wanted Harry Reid, 2011 US debt ceiling crisis, Default, US Congress, US debt, US Senate, US debt ceiling, US Senate Majority Leader, World economy, Politics of the United States US Senate Majority Leader Harry Reid has said neither side got what they wanted from the deal announced yesterday to raise the US debt ceiling, because it is a compromise. The White House and congressional leaders worked Monday to align lawmakers from both parties behind their formula for averting a financial meltdown and halting the government's prolific spending habits. http://news.linktv.org/videos/us-congress-to-vote-on-deal-to-prevent-default?start=0 Both houses of the US Congress were lining up votes Monday on a bitterly fought agreement with President Barack Obama to raise the limit on US borrowing and forestall an unprecedented American default. <br /> Mon, 01 Aug 2011 12:15:00 -0700 http://news.linktv.org/videos/us-congress-to-vote-on-deal-to-prevent-default 2011 US debt ceiling crisis, US Congress, US debt ceiling, Default, Barack Obama, Joe Biden, Harry Reid, US debt, World economy, Politics of the United States Both houses of the US Congress were lining up votes Monday on a bitterly fought agreement with President Barack Obama to raise the limit on US borrowing and forestall an unprecedented American default. http://news.linktv.org/videos/raw-video-obama-announces-debt-deal?start=0 President Barack Obama urges lawmakers in Congress to "do the right thing" and approve an agreement to raise the US debt ceiling and cut spending. Mon, 01 Aug 2011 12:05:00 -0700 http://news.linktv.org/videos/raw-video-obama-announces-debt-deal Barack Obama, 2011 US debt ceiling crisis, US debt ceiling, US Congress, US debt, Economy, Economics, US Government, Telegraph.co.uk, United States President Barack Obama urges lawmakers in Congress to "do the right thing" and approve an agreement to raise the US debt ceiling and cut spending. http://news.linktv.org/videos/world-markets-jump-as-obama-announces-debt-deal?start=0 World stock markets jumped Monday after President Barack Obama announced a deal to increase the US debt limit, which would avoid an American default. But observers were injecting a note of caution into their analysis. Mon, 01 Aug 2011 08:36:00 -0700 http://news.linktv.org/videos/world-markets-jump-as-obama-announces-debt-deal 2011 US debt ceiling crisis, US debt ceiling, US debt, Default, World economy, Stock market, Barack Obama, United States World stock markets jumped Monday after President Barack Obama announced a deal to increase the US debt limit, which would avoid an American default. But observers were injecting a note of caution into their analysis. http://news.linktv.org/videos/argentina-cautiously-watches-us-debt-crisis?start=0 The ongoing debt crisis in the US is a painful reminder for Argentina of its own default in 2001. But now economists in Argentina are warning that a potential US default could spark a domino effect in the Americas and they think governments in Latin American countries should be ready. Thu, 28 Jul 2011 09:52:00 -0700 http://news.linktv.org/videos/argentina-cautiously-watches-us-debt-crisis US debt ceiling, Default, Latin American debt crisis, 2011 US debt ceiling crisis, US debt, Debt, Latin America, Argentina, United States, Buenos Aires The ongoing debt crisis in the US is a painful reminder of Argentina's past when in 2001 the Latin American country defaulted on its debts. For years, it was the US and developed nations who closely watched as Latin American economies struggled with their debt crises, and in many cases lectured them on what they should do about it. But now it is the other way around, as this region is enjoying years of economic prosperity. Economists in Argentina say a potential US default could spark a domino effect in the Americas and they think governments in Latin American countries should be ready. The Argentinian capital, Buenos Aires.