IMO the root cause of the problem lies in the desperate attempts...

IMO the root cause of the problem lies in the desperate attempts by both US and European Union goats to avoid taking a haircut. They keep trying to kick the can down the road in the hope something will turn up or inflation will reduce the problem to manageable size.

Iceland is a example of taking the medicine and then going on with life. They are coming back slowly but surely.

Right here we have the problem of a dysfunctional Federal administration with an over influential far LEFT holding the deciding vote. This is leading to the imposition of a carbon tax and then price without popular imprimatur. The hope being that by the time of a required federal election the egg will be too scrambled to unscramble. Hardly a solution consonant with a democracy's principles.

We, the US and Europe all need to balance better entitlement to funding, which is best summed up as "There is no such thing as a free lunch".

All IMO of course.