US Going Same Route as Greece, Portugal

"(We've had) forty years of political promises to give people certain entitlements, certain benefits. And we've now come to understand that the United States is in a very difficult position than it was in the early post-World War II period. We're not the dominant economy. And our pace of growth has moderated. Ourability to finance this is all limited."

US Deficit Spending: US Going Same Route as Greece, Portugal: Economist - CNBC