A Scary Thought
Posted: Thu Jul 16, 2015 4:43 amCould America Become the Next Greece?
The Congressional Budget Office (CBO) estimates in its alternative fiscal scenario that U.S. publicly held debt will grow to 180 percent (exceeding the current Greek-level) by 2039. Yet U.S. debt is already in the danger zone, dragging down present-day growth prospects.
http://www.nationalinterest.org/feature ... eece-13341
I know that the difference between America and Greece is that we can print more money. However, that reserve currency will diminish when china's currency make it to reserve status. One simple truth. Give a man a fish and eats for a day. Give a man food stamps, welfare checks, free cell phones and many other things and he will vote democratic the rest of his life.
The Congressional Budget Office (CBO) estimates in its alternative fiscal scenario that U.S. publicly held debt will grow to 180 percent (exceeding the current Greek-level) by 2039. Yet U.S. debt is already in the danger zone, dragging down present-day growth prospects.
http://www.nationalinterest.org/feature ... eece-13341
I know that the difference between America and Greece is that we can print more money. However, that reserve currency will diminish when china's currency make it to reserve status. One simple truth. Give a man a fish and eats for a day. Give a man food stamps, welfare checks, free cell phones and many other things and he will vote democratic the rest of his life.