US heading to calamity like Greece

The Governor of the Bank of England sees similarities between the fiscal situation in Greece and the US.

The problem with Greece is that the government can no longer afford the generous benefit packages that it's citizens get and now must borrow heavily as well as make significant cuts in the benefits.

http://blogs.telegraph.co.uk/finance/edmundconway/100005657/us-faces-same-problems-as-greece-says-bank-of-england/