The Euro’s Greek Tragedy, and Its Lessons for America

On both sides of the Atlantic, government spending and unfunded retirement commitments continue to hit record highs. This discourages the new private-sector investment needed to create growth and all the good things that go with it: jobs, profits, house purchases and government tax receipts.

David Malpass says like many governments in the U.S. the Greek government has been spending more than it’s tax receipts can finance.