It's Monday Morning and Robert Samuelson Is Once Again Confused About the Economy

Yep, some things never change. Robert Samuelson tells us the tragic story of Greece, it needs to reduce its debt, but to do so it has to raise taxes and/or cut spending. That slows growth, which raises unemployment and also lowers its GDP, quite possibly raising its debt to GDP ratio. After telling us that there is no easy exit from this problem for Greece, Samuelson goes on:

"But it’s important to note that Greece’s predicament, though extreme, is shared by many major countries, including th...