“No Way Out” of Debt Trap, ‘Gross Says: U.S. Living Standards Doomed to Fall’

“In this U.S., states across the country face a collective $125 billion shortfall for fiscal 2012, while Congress is facing a budget gap nearly 10 times that size.”

read it here:

http://finance.yahoo.com/tech-ticker/%E2%80%9Cno-way-out%E2%80%9D-of-debt-trap-gross-says-u.s.-living-standards-doomed-to-fall-536001.html;_ylt=An4uVTHnqFjCRSRxVq2wrzK7YWsA;_ylu=X3oDMTE1czlpZXZzBHBvcwMzBHNlYwN0b3BTdG9yaWVzBHNsawNub3dheW91dG9mdXM-?tickers=^DJI,^GSPC,^TNX,GLD,GDX,TLT,MUB&sec=topStories&pos=main&asset=&ccode=

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