Germany Avoids Debt Crisis

With countries from the U.S. to Greece suffering from the results of borrowing too much money, how has Germany managed to keep its economy strong (and its credit rating better than America's)? Chancellor Angela Merkel has worked to avoid debt, and encouraged other European countries to do the same. Various news services (AP, Reuters, and Fox) report that Merkel

called for all euro zone nations to enact constitutional amendments requiring balanced budgets. They said they want the process completed by the summer of 2012, but it would almost certainly run into protracted political difficulties in many countries.

Balanced budgets are good for any country, anywhere, anytime. Perhaps America can learn from Germany on this topic.