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Former Comptroller General Warns of Greek Scenario in U.S.
« on: March 09, 2012, 12:30:40 PM »
Quote from: Chris Good, ABC News
Former U.S. Comptroller David Walker has warned that the U.S. could slide into a debt scenario similar to what Greece is experiencing.

“The truth is if you count total U.S. government debt as compared to many of the European nations that are in the news, we’re already worse than they are, and we’re two years away from where Greece was when it had its crisis,” Walker said.

But he said that the size and economic power of the U.S. means it would have more time to right itself before disaster.

He’s been warning of fiscal troubles since 2007, when he told  CBS’s Steve Kroft in a “60 Minutes” segment, “I would argue that the most serious threat to the United States is not someone hiding in a cave in Afghanistan or Pakistan, but our own fiscal irresponsibility.”

“We’ve got more time than those countries in Europe, because of who we are and what our position is in the world, but we don’t have unlimited time,” Walker said.


http://abcnews.go.com/blogs/politics/2012/03/former-comptroller-general-warns-of-greek-scenario/
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