Germany Says 'Great Uncertainty' About US Debt
German Finance Minister Wolfgang Schaeuble questioned on Tuesday how the United States could deal with its high levels of government debt after November's presidential election.
But Treasury Secretary Timothy Geithner has said the United States is likely to hit a $16.4 trillion borrowing limit by the end of the year.
Unless politicians agree on a plan, a wave of U.S. spending cuts and tax hikes dubbed the "fiscal cliff" are set to take effect in January, within months of the November 6 election.
A burden for generations to come
German Finance Minister Wolfgang Schaeuble questioned on Tuesday how the United States could deal with its high levels of government debt after November's presidential election.
But Treasury Secretary Timothy Geithner has said the United States is likely to hit a $16.4 trillion borrowing limit by the end of the year.
Unless politicians agree on a plan, a wave of U.S. spending cuts and tax hikes dubbed the "fiscal cliff" are set to take effect in January, within months of the November 6 election.
A burden for generations to come