EVERY economic question posed to Obamanation should be the same: "How do you explain Iceland?"
Iceland was threatened with utter collapse, endless stagnation and even STARVATION if the people were not FORCED to repay private bankster losses. Iceland refused and, as a result, has already cleared its debt problems and has a smartly growing economy again ... without the debt which is strangling Ireland, Greece, the US, etc.
http://www.youtube.com/watch?v=SixS1JMDgUk&feature=player_embedded#at=107
I have come to realize that men are not born to be free. Liberty is a need felt by a small class of people whom nature has endowed with nobler minds than the mass of men. -Napoleon