Could the U.S. end up like Greece?

In the past month, we have watched as Greece went down in a debt crisis. pressure from global financial markets have forced Greece to begin a drastic austerity program. Greece promised to return to its normal status by 2013. The European Union and the IMF have sent a large sum of money to help out, $1 trillion. The European Central Bank is also sending money. The U.S. is by far the world’s largest single economy.We can depend on a domestic demand to drive the economy. However, we are facing challenges too, and many of these challenges are caused by the same reasons as in Greece. One important reason is because out debts are very far above what we can usually handle. Unless we change our fiscal policy, these problems are predicted to continue.

URL: http://www.cnn.com/2010/OPINION/05/20/vorce.greece.crisis/index.html?iref=allsearch

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