Volcker Says Time Is Running Out for U.S. to Tackle Fiscal Woes

Debt problems are in no way limited to Europe. This is an international sovereign debt crisis that will, in time, bare down on the United States.

“In the United States, we don’t seem to me to share the same sense of urgency” as countries such as Ireland, Volcker said in his speech. “The time we have is growing short” and “there are serious questions, most immediately about the sustainability of our commitment to growing entitlement programs.”

Source: bloomberg.com