FRONTLINE: Ten Trillion and Counting
FRONTLINE: Ten Trillion and Counting
As America struggles to prop up its economy, the national debt is spiralling to record — perhaps uncontrollable — levels. FRONTLINE asks if the government may be making a debt crisis of its own.
Two wars and a global financial meltdown have caused a perfect fiscal storm for the US that has seen its credit rating downgraded for the first time. As the federal government strives to shore up the economy, pundits and politicians on both sides of the fence are beginning to call for rapid and drastic fiscal reform. Without it, they fear, not only will the Obama administration be hobbled in its efforts to achieve any of its stated goals, but the government could end up facing a debt crisis that makes the current situation pale by comparison.
The road to recovery is long and hard, but is it too late to change direction and try a new course?
Reporter Forrest Sawyer interviews leading experts in government finance as the film investigates the causes and potential consequences of — and possible solutions to — America's $10 trillion debt.
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