Tipsheet

Unsettling but True Fact: USA Headed Down Greece's Economic Path

Meredith Jessup | February 15, 2010 7:47 PM

Facing complete economic meltdown, Greece currently has a debt level equal to 112% of country's Gross Domestic Product (GDP).

According to the Congressional Budget Office

(CBO), the U.S. will reach this level in just 15 years.

Furthermore, the CBO's estimated numbers past 2025 are downright horrifying: 205.8% by 2038, 509% by 2066, and 766.9% by 2083.

Will the U.S. take a lesson from the situation facing Greece right now and take action to actually address our mounting debt?

Unsettling but True Fact: USA Headed Down Greece's Economic Path

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