Greek Economic Crisis Could Impact U.S. As Debt Ceiling Negotiations Continue


The debt crisis in Greece may be felt in the U.S.European officials are currently considering the second bailout for Greece in a year, something that some experts say could greatly impact the United States economy.

“We’ve discovered that the United States is very interconnected with the rest of the globe in the last couple of years,” Jon Hilsenrath, The Wall Street Journal‘s chief economic correspondent, said on ABC’s Good Morning America. “Our economy is very vulnerable to shocks right now. It’s not like we were in the 1980s and the 2000s when there were shocks like Hurricane Katrina or the tech bubble burst, and the economy kind of sailed right through.”

The impact of a Greek bailout comes at a difficult time for America, as lawmakers debate the merits of raising the debt ceiling. Fox News reports that negotiators have given a July 1 deadline for a decision to be reached.

Vice President Joe Biden, who is helping to oversee the negotiations, says that the deadline is needed so that both Republicans and Democrats can take a compromise and sell it to their caucuses in anticipation of Aug. 2, the date Treasury Secretary Tim Geithner has given as the time when America would begin defaulting on its debts.

Personal Liberty

Special To Personal Liberty

You Sound Off! is written by our readers and appears the last Wednesday of each month. If you would like to submit an article or letter to the editor for consideration for You Sound Off!, send it to by the Friday before the last Wednesday of the month. To be considered, a submission should be 750 words or less and must include the writer's name, address and a telephone number. Only the writer's name will be published. Anonymous submissions will not be considered.

Join the Discussion

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.