Looking at Greece should Republicans be cheering Obama`s spending?

Greece took on Goldman Sachs toxic ets aka spending and now their government is broke and has to take IMF(private company) money. So what does the Greece government have to do to get the money, well give up their social programs and raise their retirement age which will lower wages with a bigger worker pool. So why not let Obama chase the derivative bubble becasue in the long run Government will have shrink to keep infrastructure intact.