Experts Warn Ballooning US Debt Echoes Greece; Entitlement Reform Seen As Key to Averting Crisis

Greece faced an economic crisis in 2007 after years of debt and government overspending, leading to bailouts, austerity measures, and economic hardship. Experts warn the US is on a similar path.

A recent poll found 85% of Americans are anxious about the ballooning national debt of over $34 trillion. Most feel lawmakers aren't doing enough to address it.

Experts say entitlements make up 70% of the US budget and are a key driver of debt. Slowing spending growth could help avoid a debt crisis.

Cutting government agencies like the IRS or Commerce Dept addresses symptoms, not core issues of growing entitlements and welfare state spending.

Proposed fiscal commissions could facilitate tough choices, but experts worry politics could derail debt reduction efforts without giving more power to non-partisan voices.