Did 'Great Recession' Live Up to the Name? - WSJ.com

HAS THE ECONOMIC BOAT JUST SETTLED FOR A TIME ON ITS WAY TO THE BOTTOM? Did 'Great Recession' Live Up to the Name? - WSJ.com: "
What is now going on with Greece would appear to be more emblematic of what is actually going on across developed world economies - in other words, we may be far from hitting bottom.

Instead, the benighted 'end' of the recession may be more like the sinking of a great ship where it settles for a time. This settling gives the sailors a chance to get the pumps restarted and to patch some holes.

However, it would appear that Obama and his economy managers have been more intent on adding to the burdens of the economy (additional entitlements).

They've also been intent of letting businesses and investors know that they are going to be looked upon to supply the wherewithal for this largess - along with having to foot the bill for borrowing the money to advance these benefits.

It's also now looking as though the government model of trying to borrow up to a country's credit limits to fund government benefits may have reached a limit with lenders. Limits engendered both by a diminution of available funds to loan and a greatly heightened concern about being paid back (at least in some relation to the same real value of the loan principle).

> Lots of liberal commentators are adamant that government borrowing and largess are dissimilar to that of individuals and families; but it sure doesn't look that way. Greece is spending too much, earning too little and has too much debt. Now everyone is talking bankruptcy and default. Sure sounds akin to an overextended credit card family!"