The news this week that the Republicans have wimped out and agreed to raise, yet again, the US debt ceiling. It shows they have no coherent plan to combat the spending excesses of the Obama administration.
For the USA it's print money and borrow like there's no tomorrow with modest tax increases completely offset by a range of new Government spending including a raft of new welfare entitlements.
Anyone who thinks the US is somehow quarantined from the situation that Greece, Spain et al find themselves in probably still believes in Santa Clause.
At least in New Zealand there in a plan, on track, to return the Government books to surplus. It's assailed by the Right who would slash and burn their way to economic prosperity and leave people rioting in the streets and by the Left who oppose with a passion every move to limit Government spending and reform welfare benefits. That simple fact probably means that the government has the balance just about right.