Deloitte survey reveals US debt crisis could be worse than some think
Tuesday, June 05, 2012
The results of a new survey from Deloitte reveals that the impact of the debt crisis in the United States could be more severe than some experts think.
The Congressional Budget Office estimates the national debt is accruing at a rate of close to $4 billion per day, which would translate to roughly $750 per household a month in the United States.
"During an election year, one of the few things both the Democratic and Republican Presidential candidates seem to agree on is that our growing debt burden is reaching a crisis point," said Robin Lineberger, CEO Federal Government Services, Deloitte. "However, it is unclear if the issue will get the public attention it deserves. From our perspective, there are an array of long-term debt solutions that have already been proposed which could help to resolve the crisis."
When it comes to the economic troubles experienced around the world, G-7 leaders are uniting. Representatives from the seven countries recently pledged to work together to address the financial crisis taking place in Greece and Spain, according to Bloomberg. This situation has affected the U.S. stock market over the past several weeks and months.
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