Nytt

Verdens største hedgefund, PIMCO, advarer om at USA kan ende opp som Hellas hvis ikke budsjettunderskuddet bringes under kontroll. Enten ved nedskjæringer eller skatteøkninger.

PIMCO chief Mr Gross said that the United States must cut spending or raise taxes by 11pc of gross domestic product (GDP) over the next five to ten years in order to preserve its role as a financial safe haven.

«If we continue to close our eyes to existing 8pc of GDP deficits, which when including Social Security, Medicaid and Medicare liabilities compose an average estimated 11pc annual ‘fiscal gap,’ then we will begin to resemble Greece before the turn of the next decade,» Mr Gross wrote in his monthly note.

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«The US and its fellow serial abusers have been inhaling debt’s methamphetamine crystals for some time now, and kicking the habit looks incredibly difficult,» he added. By contrast, Canada, Italy, Brazil and China were among the countries judged to have their budgets and fiscal gaps under relative control.

Rating agency Moody’s warned this month that America will struggle to hold on to its prized AAA rating unless Washington takes measures to rein in the government’s debt.

America’s Congressional Budget Office (CBO) has forecast that America’s debt-to-GDP ratio will balloon to 73pc by the end of the current fiscal year on September 30,

The CBO has warned it could spiral to 90pc by 2022 and higher still after that unless spending is cut and the amount raised in taxes is increased. The ratio averaged about 40pc for most of the period after World War Two.

http://www.telegraph.co.uk/finance/financialcrisis/9581682/PIMCO-America-could-resemble-Greece-before-2020.html