Economic policy on both sides of the Atlantic is in turmoil. European leaders push for austerity. Not so fast, say their U.S. counterparts...

Economic policy on both sides of the Atlantic is in turmoil. European leaders push for austerity. Not so fast, say their U.S. counterparts who fear the deflationary implications of such a course. Keynesian stimulus packages seem to be losing their effectiveness as the economy sputters. Former Fed Chairman Greenspan suggests the U.S. may have reached the limits of its borrowing capacity. If so, how will bigger stimulus packages be financed? How can interest rates, already at record lows, be lowered further to spur economic growth? What are the political implications of economic stagnation? According to George Soros, they are nationalism, social unrest and xenophobia.