RTAmerica on Jun 29, 2011
Austerity measures in Greece triggered violent protests on the streets. The situation is nearly out of control and some predict that, if the violence continues, the casualties could lead to a governmental collapse. Meanwhile California just passed a round of austerity in response to its budget crisis. They are cutting or postponing billions of dollars to schools and healthcare programs for the poor and are increasing fees to nearly 9 billion dollars. Nationwide, Congress is struggling to stop piling onto the 14 trillion-plus dollars of debt and raise the debt ceiling. Demetri Kofinas, financial journalist from New York, joins RT's Lauren Lyster from Athens to discuss the issue.