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Greece Ain’t Got Nothing on Us

Yes, yes. Your 401K is in the toilet again and it’s all Europe’s fault. How could they have possibly unified their currency without unifying their fiscal policy, etc., etc. But the truth is, Greece’s debt is a drachma in the bucket compared to the U.S.

Take a look at total indebtedness vs. GDP. In Greece, it’s about 12 times more debt than GDP. In the US, with $211-trillion in debt, that’s about 14 times our GDP.

In other words, the U.S. is in worse long-term fiscal shape than Greece. According …