'60 Minutes' on the coming day of reckoning

That's the day when cities and states are forced to default on debt, ask Washington for help or cut basic services like police, fire, and CHP. Financial analyst Meredith Whitney says that the fiscal debt crisis "has tentacles as wide as anything I've seen. I think next to housing this is the single most important issue in the United States, and certainly the largest threat to the U.S. economy." There's not a whole lot that's new, but at least the 13-minute segment lets folks know about the scope of the problem. NJ Gov. Chris Christie looks impressive.


More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAX
Socal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
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Letter from Down Under: Welcome to the Homogenocene
One last Florida photo
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'I Am Woman,' hear them roar
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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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