Could America Go the Way of Greece?

Fareed Zakaria, Time
As Europe confronts another act in its Greek drama, many are watching and wondering, Is the U.S. next? Could our debt-ceiling debate be the beginning of a crisis that makes the world lose faith in American credit? Anything could happen, but it's worth noting the big differences between Greece and the U.S.Greece faces three problems. First, it has an uncompetitive economy that cannot generate growth. Its labor is too expensive, it exports few products, and its people are not rich enough to power an expansion. This is not a recent problem. Greece has never been an economic dynamo.

Source: http://www.realclearpolitics.com/2011/07/01/could_america_go_the_way_of_greece_258534.html

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