Why the U.S. Isn't Greece

E.J. Dionne, Washington Post
SAN FRANCISCO -- If the United States were still governed under the Articles of Confederation, might California be in the position of Greece, Spain or Italy?After all, California has a major budget crisis and all sorts of difficulties governing itself. Its initiative system allows voters to mandate specific forms of spending and to limit tax increases and also make them harder to enact. Absent a strong federal government with the power to offset the impact of the recession and the banking crisis, how would California fare in a global financial system?

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