A nation with explosive debt.
A nation with unemployment in double digits.
A nation whose citizens depend on government services that consume the majority of its spending.
A nation with upcoming elections that will determine its direction.
A nation seeking financial support from its allies.
That nation, in this writing, is Greece.
Greece is seeking a new infusion of 240 billion Euros, about $208 billion, while rejecting the requirement to trim its spending.
Countries of the Euro Zone are demanding that Greece cut its government spending that's now 20 percent smaller than in 2008 after years of deep recession.
Greece has an unemployment rate of 21.7 percent with a staggering 54 percent rate of unemployment among workers 15-24 years of age.
The lack of leadership and confidence recently caused citizens to withdraw 700 million Euros, $898 million, from local banks in Greece. President Karlos Papoulias noted the risk that banks are running out of money as a "threat to our national existence."
In the International Business Times, Swedish Prime Minister Anders Borg warned those attending a Brussels meeting of European Union finance ministers, "We are very close to the end of the road. The situation is very serious."
The situation is dire. There is a national crisis.
Will America's citizenry continue to demand and vote for those whose shallow rhetoric depends upon promises of services and benefits? Will the "leaders of America" have the courage to speak truthfully about the unsustainable path that Greece is on with the U.S. in its shadow? Will our Congress, regardless of political party, stop spending and face the crisis it has created at the beckon of the voters? Will our nation's creditors speak the same warnings over America?
Jing ji wei ji. That's Chinese for economic crisis, just so you'll recognize it.
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