America?s fiscal situation appears grim. The ?supercommittee? was unwilling to make tough decisions, mostly because voters won?t support the necessary mix of tax increases and spending cuts. Few politicians want to acknowledge that somebody?s standard of living will have to fall. It?s hard not to look at the current crisis in Europe and wonder if the United States might someday find itself in the position of Italy, even if we will be spared the fate of poorer Greece.
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