The latest U.S. government efforts to raise the country's mammoth 14.3 trillion dollar debt ceiling, have collapsed - after a Republican opposition leader walked out of negotiations with President Obama. Unless the government can agree to raise the debt limit by August the 2nd - the country will be unable to pay its bills and will have to declare default. And the effects are being felt already - as the U.S. Federal Aviation Authority, which oversees all civil flights, begins to shut down. But critics say that it's unlikely either side will offer a solution, be it more taxes or spending cuts. RT's New York resident - Lori Harfenist, went onto the streets of the Big Apple to gauge public opinion on more taxation.
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