For U.S., European Economies - the $2 Trillion Solution

By Joseph Lazzaro:
December 20, 2011 3:19 PM ESTA Solution for Each Side of the Atlantic
In other words, we're looking at a "$2 trillion solution" -- $1 trillion on this side of the Atlantic, $1 trillion on the other side of the Atlantic, in Europe.
In Europe, Eurozone leaders have made progress addressing the large debt of its southern European countries, particularly Greece and Italy. They've increased the lending capacity of the European Financial Stability Facility (EFSF) to €440 billion or $575 billion, including allowing the facility to buy sovereign bonds on the primary or secondary markets.
However, even when combined with Italy's €30 billion or $39 billion in probable spending cuts and increased taxes, Italy may still end up using a considerable portion of the EFSF's resources.