It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
(visit the link for the full news article)
Sen. Judd Gregg (R-N.H.), along with other members of Congress and leading financial experts, is warning that the United States is in danger of being in the same dire situation as Greece – national bankruptcy -- in seven to 10 years unless the federal government radically curtails spending.
Originally posted by Mdv2
Could someone tell me what distinguishes the US economy from any of the traditional PIIGS other than the triple A status which it should have lost already? The US and the UK are in the same boat as Greece, Spain, Italy, Ireland, Japan and Portugal.
Solution: The US creates 1500 billion a year out of thin air and the UK 200 billion a year. Creating something out of nothing is impossible... sooner or later this bubble is gonna collapse.
[edit on 7-6-2010 by Mdv2]