In an August 3 Washington Timescolumn, Ted Nugent claimed that the United States could suffer from “Greece-like doom” economically. But economists have noted that it is “impossible” for the United States to experience the same economic problems as seen in Greece. From the Times:
Moody's and others are warning us of our impending doom by threatening to reduce the nation's credit rating even with the promise of $2.5 trillion in spending reductions. Much, much more needed to be done.
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The financial lookouts are warning us that we are headed for Greece-like doom with our berserk addiction to borrowing and spending. Higher interest rates and inflation are coming first.