Is the U.S. on a path similar to Greece?

If you ask most Americans, I believe they would tell you that money is tight.  They may even be reducing cable services, choosing not to dine out or go to the movies to stretch their budgets.  No so with the government.  Both sides of the aisle, and the President,  love spending money (that isn’t theirs). It’s time to take notice.

Gitanjali Poonia in her article “Warning signs point to a “debt bomb.” Does the Federal Government need to be put “on a diet”?  points to similarities between the downfall of Greece and the path the U.S. is on.  She includes comments from Dan Mitchell, a federal economist, who said, “If there were some responsible lawmakers in Greece, who, five or 10 years earlier, had simply taken some responsible steps to slow down the growth of government … all that economic and human suffering could have been avoided,” Now, I think the same situation is true in the United States.”

Since the government isn’t heeding the warning call, it’s time for the states to act through a convention to propose an amendment that slows the growth of government and establishes a path to solvency (i.e. Swiss Debt Brake).