My piece at Fox News starts this way
Greece is a small share of the world market, and Athens is almost 5,000 miles from New York City. Yet, the wild swings in the stock market on Thursday stem not from Greece’s size, but from what it tells people about the future for other countries. On American’s current path, Greece’s current woes will be our future. From slower economic growth to having less money for their retirements, Americans have a real stake in learning from Greece’s errors. Hopefully, the 347 point drop in the Dow Jones Industrial Average yesterday and the over 700 point drop since Tuesday will get Washington's attention.
The violent demonstrations in Greece are showing how incredibly hard it is to control government spending once programs are started. Even just cuts in the growth in spending are meeting stiff opposition. . . .
Labels: deficits, foxnews, Greece, ObamaAdministration, op-ed