Monday, May 3, 2010

Bankrupt Greece - A Lesson for the US

Greece, a socialist country, has spent itself into bankruptcy. Finally, the EU, under the leadership of German Chancellor Angela Merkel and the International Monetary Fund have agreed to lend Greece $146 billion Euros over the next several years to prevent insolvency in exchange for a Greek promise that they will raise taxes and cut spending, which will be monitored on a quarterly basis to insure compliance. Of course, since one of four Greeks works for the government and these cuts will impact them, there will no doubt now be riots in the streets. One of the things that the Greek government has taken from their public employees is the two month pay bonus that they get each year in addition to their normal compensation and benefits.

The Germans had to step in to save Greece to prevent the collapse of the EURO and perhaps the whole European Union because Spain, Portugal, Italy, Ireland and Britain also have debt that is unsustainable. These countries have cradle to grave welfare systems built over the years by Socialist governments that have bankrupted their countries. Does all of this sound familiar? Socialist President Obama is attempting to bring European style Socialism to the United States in his quest to "redistribute income" in the name of "social justice". These big government, high tax Socialist Schemes have not worked anywhere in the world they have been practiced.

Do we need to experience what is happening in Europe to learn this lesson the hard way? The Obama Administration is projecting trillion dollar deficits in each of the next ten years and that is with big tax increases. Obama's Debt Commission is a sham designed to provide cover to raise taxes even more rather than cut spending. The reality is that the only way out of our fiscal mess is to CUT SPENDING and get entitlements under control, not add news ones like Obama's HealthScare Plan. In fact, we must repeal and replace HealthScare as soon as possible before it ever goes into effect because it will not only bankrupt the US, it will bankrupt many states that will not have the money to fund additional Medicaid benefits.

If we want to prevent the US from becoming a banana republic, we must elect Conservatives in 2010 and 2012 who support limited government, lower taxes and less regulation, a balanced budget, term limits, a strong national defense, real energy independence and health care reform, the right to bear arms, the sanctity of life and family values. Most important, we must elect Conservatives who support the Constitution as written by our Founding Fathers, not as contrived by our current Socialist President, former Presidents, Congresses, or the Courts. We have to take back our country to prevent the economic collapse that is happening in Europe. We can do it. We must do it for the sake of our children and grandchildren.

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