Business Daily - America: Nation of deadbeats
How debt has defined America and continues to do so. We look at the dangers of the growing US structural deficit and explore the US's history of debt and default.
A nation of deadbeats - that's what one historian calls America. Because debt and default has defined the country since the very start, and debt is still a key issue. America may have swerved away from the fiscal cliff but faces another deadline - agreement on the nation's debt ceiling. Stephanie Flanders tells Justin Rowlatt about the concerns over America's growing structural deficit - will it lead to disaster? And historian Scott Reynolds Nelson explores the country's debt dilemmas of the past. Photo: Getty Images