With Greece attempting to negotiate terms with the EU and threatening to leave the EU unless more favorable terms are agreed to for a bailout, it makes sense to think about public debt issues. Greece is certainly not alone with respect to its fiscal irresponsibility.
Take a look at Laurence Kotlikoff's latest op-ed "What's the most fiscally responsible country in the developed world?"
As he puts it:
It’s a strange word in which a totally bankrupt country — the U.S. — can borrow at extremely low cost while printing money at astronomical rates. It’s a strange world in which policymakers can’t distinguish economic from linguistic measures of fiscal sustainability. And it’s a strange world in which Italy, the developed world’s most fiscally responsible country, has to be lectured on fiscal prudence by countries in far worse fiscal shape.
What do you think?