Originally Posted by Black Death
We had the same issue in Australia - while our private debt is awful, our public debt is basically zilch compared to yours and we never blamed shortfalls in our government's budget because of the influence of unions. Unions could not be responsible for trillions of $ worth of debt, but outright deliberate mismanagement of a countries fiscal status is. That's what happened under Reagan and that's a cold-stone fact.
You think Gorbachev was negotiating the end of the Soviet Union because Australia has a copper mine? Get real.