[quote=meadandale][quote=CA renter]
I agree that Greece needs to default (as do all the FBs in the U.S.).[/quote]
So, if you advocate Greece defaulting what is your position on the US raising our debt limit? Everyone says that the sky will fall if we default on our debt obligations. Shouldn’t we just default as well rather than trying to climb out of this massive hole?
If it’s good for Greece…isn’t it good for us?[/quote]
Just because it may be the best option for Greece doesn’t mean it’s the best option for us.
Some big differences:
* We aren’t part of a shared currency
* We don’t currently need to borrow at very high rates
* We are the world’s de facto currency (for the moment) and can print more (for awhile).
* We have better tax compliance
* We have a lower percentage of folks working for the government
* We spend a tremendous amount on the military and entitlements – allocations that could possibly be adjusted.
Overall – we *have* options. Now whether we have leadership and honesty and a willingness to not get re-elected (or to vote for those who tell us painful truths) is another matter.
