Dr. Peter Morici: US debt ceiling deal a prelude to ultimate default
Jul 15th, 2011 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Dr. Peter Morici: US debt ceiling deal a prelude to ultimate default; President Obama wants a big deficit reduction deal - - a long term solution to the nation’s unbalanced finances. Yet, what the President and Republicans propose - - even if both could accept much of what the other offers - - would only delay the inevitable. Like Greece, America’s finances will grow worse and worse.