More Spending: Is U.S. Duplicating EU's Mistakes?

By Investor's Biz Daily, Investor's Business Daily - October 6, 2011

Greece and Italy sneeze, and the rest of Europe catches cold. Slowly, the once-mighty European Union seems to be falling apart under the weight of its accumulated debts. Is this what they mean by financial contagion?

Moody's downgrade of Italy's debt on Wednesday has cast a pall over efforts by the European Union to shore up the currency zone's collapsing finances.

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