Massive government spending to support financial institutions is threatening "precarious fiscal positions" in the United States and other countries, according to the 2009 Global Risks Report by World Economic Forum.
The analysis, published in cooperation with Swiss Re, Citigroup, MMC (Marsh & McLennan Companies), the Wharton School Risk Center and Zurich Financial Services, said the warning on government spending also applies to the United Kingdom, France, Italy, Spain and Australia.
It is dangerous to address immediate economic concerns without remedying the root causes of the problem, or sowing the seeds of new ones whose impact will not be immediate but may be strongly felt at a later date, the report warned.
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