If a U.S. economic crises can affect Europe, can a European debt crises affect the United States?

Also, the United States govt. is currently operating on a "too big to fail" doctrine. But at what point will the U.S. govt. start having a debt crises?? (I mean other countries are EVENTUALLY going to realize we have no intention/means to pay any of these debt off, right??)





http://news.yahoo.com/s/ap/20100428/ap_o鈥?/a>





BERLIN 鈥?Europe's debt crisis mushroomed Wednesday as Spain saw its credit rating lowered, just as Germany sought to reassure nervous investors that Greece would not be allowed to go under, saying Berlin's share of a key aid package could be approved in the next few days.





Stock and bond markets had begun to regain their composure after stinging downgrades of Greece and Portugal the day before, when Standard %26amp; Poors delivered more bad news by cutting Spain's rating to AA from AA+ amid concerns about the country's growth prospects following the collapse of a construction bubble.





"We now believe that the Spanish economy's shift away from credit-fuelled economic growth is likely to result in a more protracted period of sluggish activity than we previously assumed," Standard %26amp; Poor's credit analyst Marko Mrsnik said.





Spain is considered the key to whether Europe's debt crisis can be resolved 鈥?its economy is much larger than that of Greece and Portugal and 鈥?many in the markets postulate 鈥?may be just too big to bail out if it gets into serious trouble.





Though its overall debt burden is fairly modest at around 53 percent of national income, the country is running a high budget deficit and has done less than others to get a handle on its public finances.|||The US will affected on the trading side of business. American exports will cost more to Europeans because the Euro is continually sliding in value against the US dollar despite the massive debt we have. All American companies that export to Europe will be hurt. The entire European Union is going to go into a recession. We will see in the coming months how it will affect us. The US dollar will still go down in value still which will cause our own problems, but Europe will not be the reason for our collapse.|||Remember how Democrats pointed toward improved manufacturing numbers as a sign of an "Obama Recovery?"...much of that was because the strong Euro was making American-made goods cheap to import into Europe. I work with a couple of manufacturers who only survived the past two years because of European customers. Soon, that will all go away.|||Yes, it already has. Some of the bailout money went to European Banks.|||It's all a sign that the global recession is'nt over yet,as we were led to believe.The **** is about to hit the fan-when the euro collapses it will mean the us will lose its biggest set of buyers,this global recession has'nt even started yet,we're just past the first corner of a very long race.