SIMILAR PROBLEMS IN THE US: How Not to Prevent Another Greece - WSJ.com
One can only expect in the US that a return to a pro-growth (assuming growth is wanted) economic policy will probably require several states to go bankrupt and current public employee union benefits to be severely curtailed.
If something along these lines in the US doesn't happen, the country will continue to see a declining, shrinking economy as its financial wherewithal and investment capital is diverted to welfare, Medicare subsidies, Medicaid and generous and early public pensions.
Thursday, October 28, 2010
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