It's encouraging to see that the citizens of Greece have a modicum of
common sense and voted to remain within a system that imposes financial
restraint and austerity. Even some of the most hardcore socialists are
coming to understand that you can't continue spending what you don't
have without severe financial consequences.
The real question is, will we in America learn any lessons from the Greek or European financial collapse or will we inexorably continue down a similar path expecting a different result?
The definition of insanity is doing the same ineffective thing over and over while expecting a different result. We could not ask for a more timely example of the result of unfettered spending.
Does our best hope lie in electing former Gov. Mitt Romney? Should the Senate switch to Republican hands and the House will remain as is in the November elections to give us our best chance to get spending under control before it's too late? Historically optimal legislation has not occurred when the White House, Senate and House are in the hands of the same party. However, in the current obstructionist environment, does this appear to be the lesser of the evils when compared with the alternative of financial ruin?