Debt is an issue that affects countries all over the world. Almost all countries are in debt as their governments take loans to cover for variations in their tax receipts. Yet while many developed countries such as Greece and Ireland are increasingly facing debt crises of their own, the effect of such debt is not nearly as crippling as it is for developing nations.
[First posted at The American Spectator.] President Obama told a sleepwalking America in his Democrat Convention Acceptance speech: I won’t pretend the path I’m offering is quick or easy. I[...]