There is no doubt that the US could get into the same predicament as Greece. $12 trillion dollars in debt is 80% of our GDP. China alone owns $1.3 trillion in US Security Bonds. Imagine if one day that wanted the money or sold it because they were weary on whether the US will able to pay it back with the continuing deficits. The dollar would crash, but China is in a catch 22 position anyway.

The Government has two options to fix the deficit:

LESS SPENDING and LESS SERVICES

Or

RAISE TAXES

The Government can't continue to provide this amount of services and cut taxes and amount big deficits. It is sustainable for short term but not long term.

Actually I think we are in a worse predicament. We are headed for a cliff and the guy at the wheel is stomping on the accelerator when he should be hitting the brakes. Greece is at least hitting the brakes by making serious cuts. But our Presidents wants to pass a health care bill that will add who knows how much to the deficit. They guy, in my opinion, flunked economics.

As the deficit grows, I worry about where all this money is going to come from.

I dont want to be a pessimist but there is much speculation these days that the dollar is gonna loose value because of the monumental bailouts the American government gave last year.

That is: the American government prints more money and puts it into the system to save the banks - but that means that the money that was in the system before can loose value.

So I would say that the U.S can get in a similar predicament - how likely it is, I wouldnt wanna say.