President Obama will ask Congress to increase the debt ceiling by $1.2 trillion by December 30 as end-of-year interest payments come due.
MIAMI, FL - Imagine if the average householder needed to increase their debt load, just to pay interest on their existing loans. Yet this is just what is happening in both the US and Europe.
At least, in the US, the existing debt is close to the GDP, unlike some European countries where debt lev...
