Greece appears to have staved off fiscal annihilation for the moment, yet its fiscal death march into oblivion continues apace. Other major Eurozone players have spent themselves into similarly precarious positions. Here in the US, our gross national debt has surpassed 100 percent of GDP, and the CBO is warning anyone who will listen that very dark days lie ahead unless significant action is taken -- and soon. Last summer, our national credit rating was downgraded for the first time ever, due to the lack of will in Washington to adequately address our own looming...
I don't understand why the Greeks don't just take more money from their rich to get themselves out of the hole. The left promises us that's the way it should work here. Why doesn't the left prove it by showing us the way in Greece? Just jack up taxes on the rich to 90%. Take their private planes and yachts. In no time, Greece will be back to being the industrial power that all socialist countries are destined to be. I hear the Greek socialists blame it all on Bush too.
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