Greece

The government of Greece has been on a spending spree for the last few decades and are like a crack addict unable to kick the habit.  Bank runs have hit Greece, it amazes me that people are surprised.  I am surprised that it hasn't happened sooner. 
This is what happens when you have out of control spending by government and proof that socialism doesn't work. Allowing the government to pay for as much of your life as possible is easy, but the money has to come from somewhere.  The debt of Greece has become so large that they are going to default and leave the Euro in hopes of salvaging their economy.
The US is no different, with current policies in place riddled with run-away spending there is no other end except for default.  We can't continue to increase the debt ceiling every time we want, the ceiling is there for a reason, to make us stay within our means (that sounds comical when we have debt in excess of 15 trillion). A budget should not include mandatory increases every year in spending and finding more ways to spend taxpayer money.
If we want to reign in spending and pay down the debt, we need to spend less than we take in as a country.  This does not mean "everybody paying their fair share" that means government not spending everyone's fair share on $20,000 toilets and $5,000 hammers.  Now I will admit that socialism sounds sexy on paper, retire at 45 with full pay...awesome, but you can pull that off by working your ass off and saving your money. 

My solution, for what its worth (a government hammer), is put in place a flat tax. That is truly the only way "everyone pays their fair share".  We also need to freeze spending, I mean freeze, no automatic increase for inflation or any other political games.  We then need to freeze the pay for all politicians, no raises until the budget is set to bring some of this spending under control. Lastly we need to get a budget that covers a year worth of government spending, none of the nonsense of cutting 25 million (over 15 years).