Rogers: Obama should take a chainsaw to US deficit

Jim Rogers, the renowned investor, has called for US President Barack Obama to take a chainsaw to the country's debt, before it becomes the next Greece.

The veteran commodity investor told Bloomberg Business Week the US has got to get its house in order and balance the books as the country is in danger of being embroiled in social unrest. "What Obama should do is take an axe, actually not an axe, he should take a chainsaw, to spending in the US," said Rogers. "The US has got to balance the budget and pay off the debt otherwise there will be social unrest." He said US citizens were faced with high inflation which was not being tackled by a government addicted to spending. "The US has seriously high inflation, which is going to ge...