John Stossel on Why America Could Look Like Greece In 10 Years

When Greece blew up, its government debt was 126 percent of gross domestic product. Ours is on track to exceed that in about 10 years. If we haven't learned from Greece, might we learn when other countries blow up? That may be about to happen, says Daniel Hannan, author of The New Road to Serfdom: A Letter of Warning to America. Hannan, a British member of the European Parliament, says, "The consequences of the better part of 40 years of reckless borrowing have caught up with us." People don't want to hear that, writes John Stossel. Hannan notes that his fellow Europeans are remarkably selfish when it comes to things they think they're entitled to. And Americans aren't much different.