<p>US President Barack Obama said earlier in the day he had reached a deal with Republican and Democratic leaders to raise the nation's debt ceiling by at least $2.1 trillion and avoid a default.<br /><br />Speaking at a Russian political youth camp, Putin said the US exists to build up its debt by relying on credit.<br /><br />"It lives beyond its means, taxing the global economy with its problems and living like a parasite off the global economy and the monopoly of the dollar," he said.<br /><br />At the same time, the Russian head of government admitted that in the present day situation the US took a "balanced" decision as a possible default would also have affected the global economy, which would have been "no good at all", he concluded.</p>
<p>US President Barack Obama said earlier in the day he had reached a deal with Republican and Democratic leaders to raise the nation's debt ceiling by at least $2.1 trillion and avoid a default.<br /><br />Speaking at a Russian political youth camp, Putin said the US exists to build up its debt by relying on credit.<br /><br />"It lives beyond its means, taxing the global economy with its problems and living like a parasite off the global economy and the monopoly of the dollar," he said.<br /><br />At the same time, the Russian head of government admitted that in the present day situation the US took a "balanced" decision as a possible default would also have affected the global economy, which would have been "no good at all", he concluded.</p>