To the Point
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 it from going bankrupt. If the US doesn't bite a similar bullet...
By Warren Olney • • 50m ListenDespite 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
In this episode
3 storiesDrone Strike in Somalia Signals Strategy Shift
Last week, US drone aircraft fired on two leaders of al-Shabab. That's an Islamist group in Somalia affiliated with al Qaeda. The attack reflects President Obama's evolving counterterrorism strategy, focused on threats to the US homeland. That's according to Karen DeYoung, senior diplomatic correspondent for the Washington Post .
Read the story7 minPlaying Chicken with the US Economy
After yesterday's riots over austerity measures, Athens was quiet today as the Greek parliament put the final touches on spending cuts and tax increases designed to unlock $17 billion in aid from the European Union , the European Central Bank and the International Monetary Fund .
Read the story36 minFEC Approves Stephen Colbert's SuperPAC
After a hearing today before the Federal Election Commission , one reporter said, "Even a gifted comedian can't make campaign-finance law funny."
Read the story7 min
