The current meme is that government borrowing/spending is harmless...that you can have unending amounts without consequence.
Consider how the world changes when that meme is destroyed.
“The current meme is that government borrowing/spending is harmless...that you can have unending amounts without consequence.”
That is sustainable, at least for the short term, when a nation has the luxury of printing a fiat currency.
Greece and other EU nations cannot print currency and get in deep dodo immediately.
The only people dumber than the Greeks are the Germans and the bankers who loaned Greece all of that cash.