Budget Disarray US Set to Restage Greek Tragedy

The US has more in common with heavily indebted southern European countries than it might like to admit. And if the country doesn't reach agreement on deficit reduction measures soon, the similarities could become impossible to ignore. The fiscal cliff looms in the near future, and its not just the US that is under threat.
Congressional leaders in the US must reach agreement soon with the Obama administration on deficit reduction measures.

Congressional leaders in the US must reach agreement soon with the Obama administration on deficit reduction measures.

Foto: Haraz N. Ghanbari/ AP