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    Are we to believe that Obama will rescind the excess appropriations? Hardly. And since pay-go is dead, most of this new spending will not be offset. It will add to deficits and debt. It’s the Greek disease. The welfare state run amok. Right here at home.

  • Euros at an angle

    The remedies being floated to fix Europe range from the mild to the extreme—it could be either a healthy dose of government intervention or surgery, so to speak, getting rid of some of the weaker euro-zone countries.

  • The European Debt Crisis - See Complete Coverage

    I thought I understood how dire things were in Europe. Then I saw it explained by Clarke and Dawe. Troubling.

  • Euro coins

    Once upon a time, the European Economic Community-remember that quaint post-World War II institution-thrived without a single currency. A larger European Union can again, but it needs to jettison the fantasy that the benefits of capitalism can be accomplished without adequate incentives to work hard and invest.

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    Europe's travails can and should be teaching us something: Do not wait until it is too late to get your fiscal house in order.

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    One day Team Obama announces a plan for enhanced rescission authority to impound wasteful spending. The next day the House surfaces a $200 billion “stimulus” plan to spend on transfer payments for welfare, even more unemployment compensation, still more Medicaid, and a bunch of special-interest subsidies.

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    Traders fret the only thing that will halt the volatile selling in risk assets is a clear solution to Europe's sovereign debt crisis, and that seems elusive.

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    Treasury Secretary Tim Geithner is urging Europeans to conduct some form of  a banking stress test, a senior Administration official told CNBC Tuesday.

  • The Parthenon in Greece

    The next financial Tsunami is emerging and will ripple to America, just as our mortgage debacle gave Europe fits.

  • German Chancellor Angela Merkel

    The Euro is in big danger. German patience, if it can be called that, will reach the limit. The US voter should realize we are bailing out the euro zone, and who signed up for that?

  • Thomas Jefferson

    The EU faces some of the same structural and debt problems then faced by the United States — a North-South (or North-Periphery) divide; and state fiscal budgets run amok.

  • A trader looks worried as he works in a dealing room in Tel Aviv, Israel.

    Sovereign debt concerns in Europe have taken hold of global stock markets and the 'flight-to-safety" flow into US bonds will continue, experts told CNBC.

  • View over the caldera of Santorini in Greece.

    The debt crisis is a game changer for the market and Europe is now at risk of heading into a double-dip recession, Arnab Das, managing director of market research and strategy at Roubini Global Economics told CNBC Monday.

  • The European Debt Crisis - See Complete Coverage

    Cramer doubts it will happen, but here's how you survive in the meantime.

  • global_markets_8_200.jpg

    It wasn't just your stock portfolio that got banged up by Europe's sovereign debt crisis—the U.S. economy may also be a little bruised.

  • German Chancellor Angela Merkel

    Merkel is showing the rest of Europe that they are serious about their own deficits and are serious about the rest of Europe following their lead.

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    Dread of potential new financial regulations and late-week risk-trimming raised the anxiety among U.S. traders on Friday, said Wall Street traders and analysts.

  • The Senate approved a sweeping Wall Street reform bill on Thursday night, the biggest overhaul of financial regulation since the 1930s. Art Cashin, director of floor operations at UBS shared his insights on the bill.

  • Pimco's Mohamed El-Erian

    The European debt crisis will deliver a "meaningful hit" to global growth and the recent selloff in stocks indicates the global economy has major structural issues, Mohamed El-Erian, CEO and co-Chief Investment Officer of Pimco, told CNBC Friday.

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    Stocks could see another fierce move down, but some traders and strategists say the worst rout since the 14-month rally began may be closer to its end than beginning.