Jay Ambrose: Can America become a Greek tragedy?
Greece is a little, bitty country that did a terribly big, bad thing. It ran up a debt so irresponsibly impossible that it’s not just Greece that’s in danger, but financial markets around the globe and a huge hunk of Europe that uses the euro as its currency. Imagine, then, what it’s going to be like when a great, huge country, the United States of America, does pretty much the same bad thing. We’ll be upside-down, the rest of the world will be upside-down, and here is what you had better not do — listen to Christina Romer, chairwoman of President Obama’s Council of Economic Advisers, who says not to worry because her boss has a plan. He has a plan, all right. He has just given us a break-all-records budget of $3.83 trillion and the probability of $8.5 trillion in deficits over the next 10 years, increasing the debt to something unmanageable, awful, destructive — and that figure could be, probably is, an understatement. When he isn’t blaming George W. Bush, who did hundreds of billio
