Nouriel Roubini : America is yet to wake up to the full extent of its Fiscal Nightmare

Nouriel Roubini : ...“Later in 2013, and not before time, a bigger debate on medium-term fiscal consolidation will begin. This will lead to another dispute between Republicans, who want to shrink the size of the federal government, and Democrats, who want to maintain it but are unsure how to pay for it.”“So the US could quite easily come perilously close to stall speed this year – or worse, if the eurozone crisis worsens.” “The reality is that America is yet to wake up to the full extent of its fiscal nightmare” - Roubini wrote in the FT last week