All tagged austerity

The Hot Potato

Should President Obama resolve nothing, when the next President is inaugurated in 2017 he or she will face the entitlement issue through the lens of his or her potential reelection campaign in 2020.

This past week the now hydra-like Greek debt crisis reared yet another one of its re-growing heads. Anti-austerity protests returned to Athens as Greek ministers attempted to acquiesce to the demands of European Union leaders who thought that the problem had already been dealt with. The continuation of the Greek recession, now entering historic periods of length and severity at five years and a 16 percent decrease from pre-recession GDP, should not be seen as a surprise.