[ChildOfThe60s]

If Greece tomorrow tore up all the debt, they’d still be in heaps of economic trouble, as they’re adding to their deficit in huge numbers each and every day. All that would happen with debt forgiveness is the need for it to be repeated over and over again.

Precisely. I have been trying to explain that to some people. It is mathematically impossible to bail out Greece as long as spending exceeds real and potential revenue. And it is a guarantee that isn't going to change.

[ctdonath2]

We’re doing the same, spending nearly $2 for every $1 revenue ... times one and a half trillion. We’d have to cut spending in half just to stop the bleeding, and then the remaining by half to pay off the debt in 30 years. Increasing GDP isn’t enough.