CBO Predicts U.S. Debt Crisis If Deficits Are Not Controlled | CNSnews.com: "(CNSNews.com) – The Congressional Budget Office is warning that unless the federal government can control its appetite for deficit spending, the accumulated national debt could spark a fiscal crisis similar to those experienced by Greece and Ireland earlier this year.
The non-partisan congressional accounting office – in a little-noticed July report – said the combination of a massive national debt and another fiscal downturn could spark the debt crisis."
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