Financial Times: U.S. Debt to Hit $20 Trillion in 10 Years

Wednesday, 21 Apr 2010 08:51 PM

While the global financial system remains transfixed by the problems of Greece and several other European countries risking default over their massive debts, the real threat is whether the credit standing and currency stability of the world’s biggest borrower, the United States, will be jeopardized by its disastrous outlook on deficits and debt.

That’s the fear raised in a devastating Op-Ed on the Financial Times website written by Robert Altman, a former deputy U.S. Treasury secretary under President Clinton who is now chairman of Evercore Partner, a leading global advisory and investment firm.

“America’s fiscal picture is even worse than it looks,â€