Lessons from Greece in US Debt Crisis

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