Why the Average American May Be Worse Off Than Greece

09-Jul (Time) — The fate of debt-troubled Greece is now only days away from being decided. Greek Prime Minister Alexis Tsipras requested bailout funds on Wednesday, promising to submit reform proposals later this week. Either the country will agree to severe austerity measures in exchange for a reprieve from its lenders or will have to exit the eurozone and strike out on its own.

Whatever happens, the average American may be worse off than Greece. Here are three ways to look at it:

• Americans actually have more debt relative to income earned
• Greece’s debt can be wiped out, but not yours
• Greece can print money, but you can’t

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PG View: Well, Greece can’t print money YET, but if they return to the drachma or some form of parallel currency, they will surely print with wild abandon.

While it is true that individual Americans can’t print currency (at least without attracting the attention of the Secret Service), the Fed can and will continue to expand the money supply in order to support our ever-growing debt load.