The Debate over Economic Policy
Jun 2nd, 2012 | By Dr. Jim EckmanEurope is in crisis. Greece, Spain and Italy are on the edge financially as they struggle with enormous debt, unsustainable obligations to government pensions and health care expenses and commitments to the euro that are currently impossible for them to fulfill. Furthermore, the governments of Europe are experiencing political upheaval because voters are turning against austerity and frugality. Within the United States, similar debates are occurring. The US debt is out of control and the US government, let alone many state and locals governments, simply cannot meet obligations to its citizens and employees. How should we think about this?