Top Economist Sounds Alarm on Ballooning US Debt, Warns of Potential Fiscal Crisis

• Top economist "very worried" about America's $34 trillion national debt, sees no attempt to decrease it

• Olivier Blanchard, former IMF chief economist, concerned about large U.S. primary deficits

• Warns of potential fiscal crisis in the U.S. after deficit ballooning in recent years

• U.S. government debt over 97% of GDP, total over 120%

• Says crisis could happen in 5-10 years with implications for rest of world if U.S. struggles