Posted on 07/06/2015 11:52:23 AM PDT by Tolerance Sucks Rocks
It will only be a new beginning if they don’t go right back to what they did to get themselves into this mess — overspend. If they do, they will re-live the nightmare over and over again.
With $20 trillion in national debt, close to $200 trillion when unfunded liabilities in entitlement programs are taken into account, can the U.S. be that far behind from Greece?
How does bankruptcy change a lazy society, VERY trained on living off
other people’s money?
Hah! The Greeks just said "NO!" to that. Democracy and the voice of the majority rule!
Next month they will have another referendum declaring the end of mathematics and declare a one-year national holiday, during which everyone will eat well and get a hefty allowance of spending money from the state.
Bankruptcy isn’t the ONLY way.
Revolution is also an option.
So much for borrowing your way to prosperity, don’t tell Boehner, he won’t believe you.
Next month they will have another referendum declaring the end of mathematics and declare a one-year national holiday, during which everyone will eat well and get a hefty allowance of spending money from the state.
How in the hell did you get an advance copy of Speaker Boehner’s budget proposal???
Greece will be forced to liquidate some assets . . . in particular, some beautiful islands.
Just wait until the USA repudiates all that debt to Red China.....
I am fascinated by the assumptions of “lazy” etc. of some of the posters here.
Thatcher predicted the unworkability of the euro from day one.
Merkel is under the false assumption that lending money is a guarantee of repayment. Money is lent and interest is changed to cover the risk of non repayment.
In the USA we have bankruptcy embedded in our constitution.
Brussels is working on the assumption that “ executions will continue until moral improves.”
Goldman Sachs inflated the bonds. Brussels demanded the standard wages be made equal with other EU nations. THEN they are shocked when the Greeks have a “stamp tax” or “boston tea party” moment.
Would not be the first time the European aristocrats pushed taxes too far. (tea anyone?)
How does a revolution, in and of itself, fix anything?
Revolutions destroy, they don’t create. Creation, if it ever occurs, take place after the revolution.
The problem with socialism is that eventually you run out of other people’s money.
You know, nations can do that. There is absolutely nothing obligating any legislative body to follow along with promises made by (and never paid for) previous legislative bodies. There's no constitution anywhere in the world that does that. If it were true, congress could meet once, divvy up all the tax receipts by percentage, and never have to come back again on a budget matter.
Then again, the same is true for any legislative body, even down to the local city. If a city council wishes to promise and pay for certain benefits for employees, that's great. But lacking actual payment for those promises does not obligate any future city council to consider the budget matter, much less actually pay for it.
Tiny difference.
American patriots were not borrowing money from the Brits to have the Boston
Tea Party.
No one forced Greece to borrow money to prop up their lazy, socialist
Society.
This entire fiasco has NEVER been about money. It has been about central control under Germany.
The EU has sought to make a united states of Europe out of nations which have hundreds of years of history with individual identities.
In the American colonies you had a group of people seeking rights under a single british crown.
with a load that demands 180% of GDP to repay it, you essentially have created a slave nation.
I have never seen it published. However, we've got something like $18T in "official" debt and an additional $100T in "unfunded mandates", that is, unfunded pension accounts for public service employees, primarily.
Fact is, the USA takes in about $2.5T in taxes and spends $3.5T, for an annual deficit of $1T. Year after stinking year.
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