American media gave considerable coverage to the current debt crisis in Italy, with the government imposing emergency austerity measures to cut the deficit. The Italians sharply slashed spending since the overall debt level placed Europe’s third largest economy in real danger of collapse. Italian debt is worse than the US, but America is now far more vulnerable than most European nations – with a heavier debt load than Germany, France, and Great Britain. We’re even eight times worse off than Russia, in terms of debt as a percentage of GDP! Moreover, Italy’s taking dramatic steps to address the fiscal crisis with a deficit that’s 4.6% of GDP; in America, our deficit is more than twice as high! When Democrats resist the need for sweeping spending cuts, they ignore the examples of more enlightened leadership around the world.