US ‘could be going bankrupt’
The United States is heading for bankruptcy, according to an extraordinary paper published by one of the key members of the country’s central bank.
The budget deficit in the US is not massive. The Bush administration this week cut its forecasts for the fiscal shortfall this year by almost a third, saying it will come in at 2.3pc of gross domestic product. This is smaller than most European countries – including the UK – which have deficits north of 3pc of GDP. More…
Is it time for a new super power to emerge? Israel picking up the pace against Iran instead of US, coincident?
