Thus Der Spiegel today. “The US has more in common with heavily indebted southern European countries than it might like to admit,” explains the newspaper. “And if the country doesn’t reach agreement on deficit reduction measures soon, the similarities could become impossible to ignore.” The so-called “fiscal cliff” looms in the near future. Coined by the Federal Reserve head, Ben Bernanke, the term refers to a huge number of spending cuts and tax increases that will go into effect by law if there is no agreement on how to cope with the country’s momentous budget deficit. The date is January 2, 2013. All in all, the cuts amount to more than a trillion-dollars. However, the expiration of tax cuts for the rich would bring close to a quarter of a trillion-dollars. The situation is serious, as another recession threatens. The new crisis will also have a strong global effect. And it can be resolved only if Democrats and Republicans work closely together. So close to the divisive presidential elections, this is a Greek tragedy for true, and in a theater near you.