A tale of two continents

The United States and the Euro zone are both in deep economic trouble but in different ways, writes Josef Joffe, a senior fellow at FSI and the Hoover Institution. The U.S. has the worst budget deficit since World War II but can't budge the unemployment rate. The Euro zone is split between the dire financial needs of the PIIGS, Portugal, Ireland, Italy, Greece and Space, and the powerful leaders, France and Germany.