CRISISBOOM

timesunion.com

Our opinion: Congress could take a lesson from Greece, which waited far too long to do something about spending and revenue. But the early signs are not encouraging.

On two things liberals, conservatives and just about everyone in between should be able to agree: First, a nation that keeps spending more than it takes in is headed the way of Greece. Second, nobody wants to be Greece.

So as Congress now considers President Obama’s budget, it needs to ask whether the plan at least starts to put the U.S. government on a sustainable course, without going so far overboard that it threatens a fragile recovery. At first blush, Mr. Obama’s budget appears to be a serious start.

But first, let’s look at Greece, and not just for the sake of schadenfreude.

Greece’s crisis is the result of a nation refusing for years to accept that sometimes leadership means making hard, unpopular choices. So many Greeks enjoyed things the country really couldn’t afford: wondrously early retirement — 50 for some workers —  culturally accepted tax evasion, and, particularly for those in public service, generous salaries and benefits. To fund it all, the government plunged hopelessly into debt.

Now Greece is resorting to a View full article