Finance Geek

Many people, observing the severe problems caused by Greece and other financially weak members of the European Union, wonder why the United States is not similarly afflicted. After all, the structures seem quite similar; the EU is united through a treaty into a single political grouping, while the U.S. is a union of states in a constitutional system.
In addition, the U.S. federal government has no control over the budgets, taxing or spending of the various states, just as the European Union’s government in Brussels has no control over the similar fiscal decisions of the various sovereign…

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