Vince Cable has attacked leading US Republican politicians for holding up a deal to reduce US government debt.

Speaking on the BBC's Andrew Marr Show, the business secretary called them "a few right-wing nutters in the American Congress". Unless a deal on Capitol Hill is agreed before 2 August, the US Treasury could run out of money to pay its bills.
.........Mr Cable said it presented a bigger risk to the global markets than the continuing debt woes in the eurozone.


President Barack Obama wants to cut US debts by both reducing government spending and raising taxes. Republicans in Congress are strongly opposed to the tax rises.

Mr Geithner told CNN: "It's unthinkable that this country will not meet its obligations on time.
"It's just unthinkable we'd ever do that. It's not going to happen." Yet he added that a Republican proposal to first raise the debt limit and then negotiate the spending cuts was "irresponsible" and would not be agreed by Democrats.

***** We in the UK are all paying an extra 2.5% in VAT.. what's wrong with the Republicans?? Worried about job cuts after public service..... mmmmmm **************

Mr Cable also welcomed the agreement of eurozone leaders to grant Greece a second financial bail-out, but says more still needed to be done. The business secretary said: "It hasn't solved the big problems, but it was a big step forward."