Can the U.S. learn from Greek Budget Cutbacks.?

Loud are the voices that are calling on Washington to slash Government spending and Privatise Public Services. Greece has had that austerity programme in place for a year now, and the result is? Incomes of the averidge Greek household has dropped by 40pc (you can imagine what that has done to local stores and services). And 1000 jobs are being lost from the Greek economy everyday. Far from saving Greece from Bankruptcy the austerity measures are actually pushing the country into default faster than before the austerity shock treatment.