Reality Catches Up

Greece is in trouble. America is in trouble. Greece is just a few years ahead of us in being forced to actually begin living in the real world. Here's what the Washington Post says about the two:

To pull Greece back from the edge, Papandreou has promised to cut the deficit to 3 percent of GDP by 2012. For the U.S. government to make an equivalent cut, it would have to shut down the Pentagon and a few other agencies: the departments of Agriculture, Commerce, Education, Health and Human Services, Energy, Homeland Security, Housing and Urban Development, the Interior, Justice, Labor, State, Transportation, the Treasury, and Veterans Affairs, plus the Environmental Protection Agency and NASA — and even then we'd come up a few dollars short.

I wonder if we will awaken to the fact that prosperity is not achieved by spending? Probably not.

HT Gene Veith