US is global economy parasite, says Putin

SELIGER, RUSSIA: The US spends beyond its means and "lives like a parasite off the global economy", Russian Prime Minister Vladimir Putin said on Monday.

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.

Speaking at a Russian political youth camp, Putin said the US exists to build up its debt by relying on credit.

"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.

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.