There are those that think default, or repudiation of it's debt in other words, is Greece's best option, as it can never under present circumstances repay it's debt on top of debt. With unemployment at record highs, such as youth unemployment at 40%, raising the already high tax rate and taking more money out of business hands is going to help Greece, how?

China, Saudi Arabia and Japan dictating U.S. economic policy? Funny, I never see them on C-Span in the budget hearings. I gotta get a bigger screen.

Personally, I'm not walking around with an umbrella to fend off the falling sky, but I think I'd let the President and the Democrats decide what entitlements to cut and articulate this need to the public. It is his administration, after all. I won't be holding my breath for that occurrence though.

My guess is that after 2012, we'll be much less excited about all this. Playing politics?; everybody always is, aren't they. It's not limited to one party.

http://www.cnbc.com/id/43526219