The lesson from Greece is that these crises are largely caused or prolonged by government actions (deficits, not the private sector), and the U.S. faces a strong warning because its projected debt-to-GDP path under current policy rises more than Greece's; the U.S. must lay out a credible plan now, even if it has more time to implement adjustments.

normativepending

Speaker

John Taylor

Evidence Quote

you don't have to do everything right now right did you have to lay out the plan so that you can get started on it

Source

John Taylor on the State of the Economy 07/19/2010EconTalk
Created: 6/15/2026, 9:17:28 AM

My Notes

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