Ask anyone in the world and they will tell you the USA is a wealthy country; more millionaires, and more billionaires than any other country in the world. And even the "poor" in the USA would be considered middle class or even "wealthy" in some countries.
Greece was once considered a wealthy country; citizens had government provided health care from cradle to grave, 30% percent of the population worked for the government with generous salaries and pensions. Even those working in the private sector had generous pensions and could retire at a relatively young age. And 4-6 weeks’ vacation leave was standard for most. It was a wonderful life. So why are they now rioting in the streets and burning down their buildings and businesses?
Because no one will lend Greece money anymore!
This Shangri-La that was once Greece is now facing reality. For decades the country survived on "borrowed" money and finally the lenders said "no mas". And since the state now has no money to pay all these wonderful entitlements they have to make cuts to pensions, minimum wages, lay off non-producing government employees, and now the citizens are rioting as a result of their "entitlements" being taken away from them.
But this could never happen here in the USA could it? We are a “wealthy” country, inventors of the iPod, the IPhone, Facebook and all the wonderful technology that makes this country hum along. We take care of our people – 42 million on food stamps, housing subsidies for the poor, school breakfast and lunch (and in some cases dinner) for school kids, free cell phones and “minutes” for the poor, 99 weeks unemployment insurance, Medicare, Medicaid, Social Security…and I read recently that a family that qualifies for all the government programs available could receive over $32000 in welfare payments a year; more that the average “working” family….is this a great country or what?
But what most people want to ignore (or don’t understand), this country has borrowed $15 trillion dollars along the way; soon to be $16 trillion…the national debt under Obama. This debt has been accumulated for decades under many Presidents, but Obama has “doubled down” on borrowing with his plethora of social programs and has taken this country to the edge of financial disaster.
What happens when our lenders say “no mas”?
4 comments:
All true Chuck but after considering everything carefully, over many months, I think the Republican Party has lost the White House again and the election hasn't even occured. My reasons are pretty clear.
1. The Party cannot seem to unify behind a single candidate and these run-ups to the election are like watching a hamster run in circles and then eat its own young. The extremists of the Party are creating a climate for failure. Romney will lose the nomination and Santorum will win, unless something radical happens. Santorum will lose the moderates of all Parties, and lose the election to Obama again. Santorum is in my opinion honest but unelectable because of his views on women, abortion, etc.
2. The ecomomy is visably improving in all areas. Encumbant Presidents do not lose in an improving jobs climate.
3. The Troops are gradually coming home and this will further spur the recovery.
4. They are building new houses again, car companies are posting a profit, unemployment is dropping every month. Europe and Asia are in decline.
4. The Republican Senate is moving towards compromise in many areas, That means the Leadership recognizes they will lose the Presidency again and they are trying to hold the House, gain the Senate, and most of all keep their own jobs.
Its over Chuck, and obvious to all but the most hardline, and they are part of the problem. A Society of this size moves forward by recognizing that it is a complex society and that there must be compromise to encourage and sustain growth and improvement.
That's just my opinion of course but lets reread this in November after the election and see how close I was.
Regards, John
John - I agree with most of your points. But it won't matter who is in charge if the country goes bankrupt....and we are probably near the point of no return. Our children and grandchildren will bear the burden of this generation messing up so badly. "Greece" could even be at our doorstep before November.
Hey Dad, who's your friend "Anonymous"? Sounds like a pretty smart and practical person -- in short supply these days!
p.s. Santorum indeed could never ever beat Obama. On the other hand, if Ron Paul runs as a third candidate, he steals all the moderates (on both sides), he steals the independents, he even steals some mainstream Republicans and Democrats. Santorum gets the hardcore righties, Obama gets the hardcore lefties, and who gets all the rest? The answer to that question is what would make such a scenario really interesting....
Mike - "Anonymous" is John Johnston, one of my Hydro managers and later the Photosea Rep in California. Of course he is smart and practical. I hired his as a green inexperienced, electronic tech, ex-marine, and molded him into what he is today :-)
I agree Santorum is a loser, so is Paul, Gingrich, Romney...and especially Obama.
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