Soros on the U.S. economy…

The balance between the United States’ high consumer spending and its growing budget deficit is unsustainable, even in the short term, billionaire fund manager George Soros said on Wednesday. “We spend 5 percent more than we earn and we have a budget deficit of 5 percent, so I don’t think it’s terribly sound,” Soros told a meeting of students in the Irish capital. “I don’t think it can be maintained in the longer term. I don’t think it can be maintained actually even in the shorter term.”
-Reuters