financially illiterate
jonrosen presents a comment that is fundamentally illiterate, from a financial standpoint. Yes, both the Eurozone and the USA have debt situations that are troubling. But the former is, on whole, far far worse. One only needs to look at the yields on government bonds to see this - there is a tremendous demand for USA debt, since the market believes to be, relatively speaking, quite solid. The Eurozone (with the exception of one or two countries) needs much higher yields to convince people to buy their debt. In some cases, the yields have risen to disturbing levels.
So yes, the USA and the Euros both have debt problems. But, on sum, the USA is much better off. (Or course, we work longer hours, experience more stress, are more "odiously large" (in Nelder's callow language) etc ... but from a "manageable debt" standpoint there is no real comparison).
