U.S is in worst shape than Greece

when governments become effectively insolvent they default on the debt

U.S is in worst shape than Greece! Nouriel Roubini Discusses U.S.. Government Deficits
 Roubini : if you are a private sector company you live and work in a market and unless you become more efficient you do not survive and disappear  , while in the case of governments that never happens , when governments become effectively insolvent they default on the debt , and that's what's may be happening soon in Greece and in the rest of the Eurozone  , eventually that may also happen in other advanced economies ...so there is not really a market or competition for forcing the governments to make tough choices ...

Indebted Greece and the world according to Roubini

Nouriel Roubini

Nouriel Roubini: "The US today is having a budget deficit of $0.5 trillion this year, that’s 11 percent of US GDP, that’s not very far from the 13 percent of Greece. And the US is much bigger than Greece."

Roubini on The Dow Crash and Greece Crisis

Nouriel Roubini we are facing serious sovereign debt problem because we have socialized many of the private losses

May 06, 2010 — RGE Economist Nouriel Roubini aka Dr Doom believes Greece is the first symptom of a larger problem
Nouriel Roubini :"My interpretation is that we are at the next stage of this global financial crisis , the first stage was driven by aggressive borrowing and accumulation of debt in the private sector households and financial institutions and now we decided to socialize many of these private losses and there is a massive re-leveraging of the public sector with budget deficit of the order 10% of the GDP and doubling of public debt in most advanced economies "
Roubini"In my view Greece is insolvent their public debt is 120% of GDP their bufget deficit 13.6% of GDP , there is no country cando such a fiscal adjustment to reduce the debt to sustainable level , so I propose that Greece should be restructured there have been episodes of restructuring of public debt in a number of emerging market economies in the last decade , it can be done , instead of using official support to waste money to try to allow some people the exit it's better to restructure this debt it is better to restructure the debt..."

RGE Arnab Das on Greece Austerity Measures

Awaiting Greece's Austerity Measures

Greece is expected to announce new austerity measures late today. Arnab Das, managing director, market research and strategy at Roubini Global Economics speaks to CNBC's Karen Tso and Martin Soong about the impact of these measures.