Greece: A real-time education on why the US needs to cut spending NOW
Submitted by NJF on Tue, 02/14/2012 - 22:52in
This article outlines a range of decisions Greece must now make as the Government can't tap the bond market to perpetuate deficit spending on entitlement programs. I don't fully agree with the author's case for devaluation because it will crush the middle class, but the article is short and provides a glimpse into the decisions governments are forced to make in a sovereign liquidity and insolvency crisis.
I so wish wish the televised debates incorporated questions around how to solve, or better yet avoid, situations like this are occurring in real time in peripheral Europe!
http://www.telegraph.co.uk/finance/comment/jeremy-warner/908...
