actually in proportion to it's size greece is in about the same shape as the united states. you have had decades of deficits since regean and especially under bushII that swelled the total debt to a pont whhere the unted states can never repay it.
this was done by a congress that is in hawk to wall street dominated financiers. the result has been a transfer of trillions of dollars to walls street finaciaers and to major military contractors while leaving the american people with the bill. much of the transfer would have been illegal beofre the regean. bush and clinton "reforms" of the financial system.
the debt limit is arbitrary. it is set by congress. i know of no other country that has a debt limit. if they vote for a budget that borrows money and adds to the debt then that's the only vote. the debt limit is a show piece so congress can pretend they are trying to fight the debt. this after they actually voted all the borrowing in the first place. however americans are now in a deply delusional place about what is happening in the world. america has been borrowing by the trillions to maintain a worthless world wide military since the seventies. that's the real debt. having military bases all over the world and conducting immoral and unnecessary wars. how do get out of this spiral--well you don't. financiers comntraoll the democratic process so the only way out is down through the drain as the system colapses--which will happen . just like the soviet union. it might take ten or fifteen years. with good management the system could last even twenty years. however if you are under fifty you are going to see a north american depression that will make the dirty thirties look like celebration. get ready. no one in the world is going to help. all the countries you invaded are going to celebrate.
you could join the occupy movement in mass. millions of people could over throw this corrupt sature of democracy,and thow the financiers in jail along with the big corporations and their executives that created this system. however i don't see it hapopening. the vast majority of americans are so deeply delusional about what is going on they will ride the collapse right down to the bottom and blame, obama, masons, new world order, zog, canada! anyone but themselves. you let your democracy be highjacked by highway robbers. people get the governmant they deserve. right here on mudcat, where i suspect the views are more liberal than most we have regular racist and bihoted attacks, and the crassest ignorance.