Why are Greece and Portugal and Italy and Ireland and Spain and the US in trouble???
They are in trouble because of the gross incompetence of their GOVERNMENTS!!
Incompetent legislative buffoons who borrowed and borrowed and borrowed and borrowed until they outspent the productivity of the private sector from whence all creditworthiness originates. These government fools managed to crush the private sector underneath a mountain of debt which was created to buy votes by subsidizing every tom dick and corporate harry, by promising to let granny retire with all her healthcare paid by fewer and fewer children and grandchildren. The budgetary numbers simply don't make any sense. Until the Congress decides to prioritize:
ENOUGH!! ENOUGH!! ENOUGH!! No MORE DEBT!! Shut it down!!