Lesley Stahl speaks with House Financial Services Committee Chairman Rep. Barney Frank (D.-Mass.); Scott Pelley investigates the deepening mortgage crisis; Byron Pitts profiles USC football coach Pete Carroll; And Andy Rooney checks his mail. watch
All of the federal government's efforts to stem the tide in the financial meltdown that began with the subprime mortgage crisis have added hundreds of billions of dollars to the national debt. FRONTLINE reports on how this debt will constrain and challenge the new Obama administration, and on the growing chorus on both sides of the aisle that without fiscal reform, the United States government may face a debt crisis of its own, which makes the current financial situation pale in comparison. Through interviews with leading experts and insiders in government finance, the film investigates the causes and potential outcomes of -- and possible solutions to -- America's $10 trillion debt. watch
All of the federal government's efforts to stem the tide in the financial meltdown that began with the subprime mortgage crisis have added hundreds of billions of dollars to the national debt. FRONTLINE reports on how this debt will constrain and challenge the new Obama administration, and on the growing chorus on both sides of the aisle that without fiscal reform, the United States government may face a debt crisis of its own, which makes the current financial situation pale in comparison. Through interviews with leading experts and insiders in government finance, the film investigates the causes and potential outcomes of -- and possible solutions to -- America's $10 trillion debt. watch