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The vicious cycle that is bringing down European states is not going to hit us [the USA], at least not for a while, at the level of the federal government. The same cannot be said of state and local governments.
"Michael Lewis’ 'Boomerang': 'Money Thrown Out in Hope, Coming Back in Anger'". "PBS NewsHour" with Jeffrey Brown, www.pbs.org. October 21, 2011.
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![The vicious cycle that is bringing down European states is not going to hit us [the USA], at least not for a while, at the level of the federal government. The same cannot be said of state and local governments. - Michael Lewis](https://www.azquotes.com/picture-quotes/quote-the-vicious-cycle-that-is-bringing-down-european-states-is-not-going-to-hit-us-the-usa-michael-lewis-127-90-41.jpg "The vicious cycle that is bringing down European states is not going to hit us [the USA], at least not for a while, at the level of the federal government. The same cannot be said of state and local governments. - Michael Lewis")
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