shortfall

The Local has a fairly good breakdown of the austerity measures that the German government enacting in order to allign its budget within EU standards.  Meanwhile, economists within the Treasury are projecting that US debt to earnings are continuing rise and spiral out of control.  These are very different metrics and with different intentions, but it seems that German cut will do more than stave off the enevitable insolvency, compared to the grim prognostication of the Americans.