Well, we haven’t reached Iceland’s situation yet. But if we do, I suspect that Americans will be less well-behaved than Icelanders, even though the Icelanders are being pretty rowdy by Icelandic standards. However, governmental deficits are ultimately limited by what taxpayers will put up with — and at the limits, that’s usually somewhat less than government deficit-runners think they will put up with.(Emphasis added).
Sunday, March 07, 2010
Icelandic Tea Partiers
Apparently the whole country is about to reject a massive government bailout of debts incurred by the country's banks. Via Instapundit. A great observation: