U.S. Should See Greece as A Warning

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The fiscal collapse of Greece has rattled international markets and renewed questions about the feasibility of maintaining a single currency across Europe.

But it should also provide a warning to Americans about how quickly things can unravel for a country when it refuses to confront the realities of its mounting debt.

If it's hard to imagine the same sort of meltdown happening here, consider this: in Greece, debt is currently at 112. 6 percent of GDP.

According to the Congressional Budget Office's fiscal projections, we're on course to reach roughly that level (with debt at 111.5 percent of GDP) in 2025.

That's just 15 years from now...

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