Over the last 3 or 4 months, several news analysts have described the debt and deficit problems of Greece. Many of these same analysts decided to compare Greek debts and deficits to the United States.
They cited data on Greece that shows a high and rising ratio of debt-to-Gross Domestic Product that increases the risk of default on their debt payments.
After admitting the United States is not close to such a high ratio and in no imminent danger of default, they ended by arguing that we will be if we keep our spendthrift ways.
But there is one important difference in Greek finance that makes their government finance different than the United States. Read more >>
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