US debt crisis continues

In the United States, the Republican-controlled House of Representatives approved a deficit-cutting plan on Friday that was quickly rejected by the Democratic-led Senate. The moves underscored deep ideological differences but also opened the way to begin negotiating a deal.

Both sides in the U.S. Congress have been at an impasse that has raised the risk of a potentially devastating default which could plunge America back into recession and trigger economic turmoil globally.

Representatives of the U.S. Bishops Conference and Catholic Relief Services, meanwhile, have sent a letter to Congress urging members to consider the moral aspects of debt reduction.

“There are a number of moral considerations already present in the debt crisis debate,” said Kishore Jayabalan of the Acton Institute for the Study of Religion and Liberty. “First is the whole question of debt itself, and how much is too much when it comes to debt, and what is a responsible amount of debt not only for individuals but for countries to take on, and that’s very much a prudential question.”

Listen to the interview with Christopher Wells: