Lessons from Greece in US Debt Crisis

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Despite public outrage, Greece has agreed to spending cuts and tax increases, although even those measures might not keep the country from going bankrupt. If the US doesn't bite a similar bullet, will its "full faith and credit" be suspect in the eyes of the world? Also, a drone strike in Somalia signals an Obama strategy shift, and comedian Stephen Colbert keeps a straight face in Washington.

Banner image: Demonstrators clash with riot police in front of the Greek Parliament on June 29, 2011 in Athens. Photo: Louisa Gouliamaki/AFP/Getty Images



Warren Olney