Not knowing much about the finances and government of Italy, except that it's a typical unstable parliamentary system, I will describe the "Austerity" that America must implement to stop wasting borrowed and taxpayer money.
In simple, Reagan-esq terms, The Federal government and the states must stop wasting money: stop spending money like a drunken sailor.
1. Stop providing excessive retirement, health care and disability benefits.
2. Stop letting government employees retire before age 65
3. Stop letting retirement benefits be based on inflated pay of the last few years of work.
4. Make the public employees pay at least 50% of the cost of retirement and health care benefits.
5. Change disability benefits to require work - any work - except for the paraplegic or blind or deaf.
6. Get rid of government departments wholesale: eliminate the Departments of Education, Commerce, Labor, Energy, Health & Human Services, Agriculture, Housing and Urban Development, Transportation, and Homeland Security. Keep only a few bureaus with lean staffs.
7. Cut the pay of all Federal government employees making over $80,000 by 20% (that is, by 20% or to $80,000).
8. Streamline the firing process for governmental employees.
9. All governmental boards overseeing governmental employees relations should be staffed exclusively by private sector personnel.
10. Eliminate all 'bargaining' with public employee unions.
And implement the policies of Bunkerman's pamphlet, Common Sense II.
Word of the Day
"Satyriasis" - noun [$10] Medical
Satyriasis means excessive sexual desire in men.
Sentence: The popular term for satyriasis is the Wade Boggs syndrome. The ex-prime minister of Italy, Silvio Berlosconi, has it, too. I'm not sure if Bill Clinton had it, or simply that Hillary cut him off. And then we have Tiger Woods ...