America Needs Its Own Truth Committee on Public Debt

I visited a Grecian isle in July, and it wasn't at all like the Joni Mitchell song. The debt crisis was ramping up, and the government's habit of taking out new loans to pay back old ones—a strategy known as "extend and pretend"—meant the country was $356 billion in the red. Youth unemployment now exceeds 60%, and the economy has ground to a halt.

I went to Greece in the hopes of learning more about what it's like when a whole country is on the economic precipice. I wanted to see...

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