rt.com US President Barack Obama says America needs to be more fiscally responsible.Ironically, Mr. Obama is also calling for an increase in the national debt ceiling. Currently, the country is more than 14-trillion dollars in debt.According to the congressional budget office, nearly 200-billion dollars of interest was paid out to public debt holders in 2010. With its own accounting in such disarray, many say America has lost legitimacy to lead the world on economic issues. In a city that never sleeps, the National Debt clock in mid-town Manhattan outpaces the people, ticking at more than ten-thousand dollars per second. “When it was first installed, no one was really aware of what the debt was, nor could most people tell you the difference between the deficit or the debt. So the debt clock stands vigil, keeping track of the national debt,” says Jordan Barowitz. Barowitz represents the Durst Organization, the New York real estate firm that operates the ticker that charts America’s borrowing. The New York City national debt clock was installed back in 1989, back when US debt was under three-trillion dollars.Within weeks of now, that number is expected to reach a debt ceiling of 14.29-trillion. “Clearly the government is borrowing too much money. Everybody knows that and everybody accepts that. It’s how you solve that problem that’s the real challenge,” says Barowitz. The familiar financial problem has been met with a recycled solution.US leaders have called on Congress to …
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