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Old 06-25-2015, 12:57 PM   #77
JPhillips
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Join Date: Nov 2002
Location: Newburgh, NY
The U.S. can literally never default because we print our own currency. That doesn't mean high inflation would be painless, but we have the capability to print enough money to pay off debts if we had to. Greece, as a part of the EU, can't do that. I think you can make an argument that if they would have been able to go the Argentina route that they would be in better shape now. Continuing to cut and tax and shrink the economy isn't helping.
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