US Less Than 3 Years Away From Being Greece: Walker

The US is only a few years away from reaching the same debt levels that pushed Greece to the brink of ruin, former comptroller general and head of the Comeback America Initiative David Walker said.As the ratio of its debt to gross national product eclipsed 100 percent and surged toward 150 percent, Greece has twice in the last two years nearly defaulted on its debt. Only successive bailout packages from the European Union and International Monetary Fund prevented catastrophe. When tolling up all the US debts, including huge unfunded liabilities to Social Security and Medicare, the US is on dangerous ground, Walker said in a CNBC interview.