by Colonel Bob Pappas, USMC, Retired
Let’s see if I have this straight. Greece is, but for Germany and other EU nations bailing it out, bankrupt. The long and short of how that happened is that Greece having joined the EU adopted a cradle-to-grave economic model much like American Democrats; and embarked on paying its workers dream salaries and retirement benefits, not to mention “universal” health care, all of which are a reflection of the U.S. Democrat Party and agenda.
Costs rapidly expanded given increases both in the number and breadth of government programs. Having found liberal lending at the EU “trough” the cure to its expanding largesse, Greek politicians believed the “borrowing well” was infinitely deep and would be a permanent cure for its spending addiction much like U.S. Democrats and the Obama Administration. In the meantime, Greek government unions, similar to California, Wisconsin and other places kept beating the drum for more. The government responded by borrowing more so those irresponsible politicians could dole it out to buy votes very much like U.S. Democrats historical record.
But, interest on the borrowed money i.e. the Greek national debt, began to mount to the point where money managers at the EU realized that Greece was too far extended to pay the interest on the debt, much less repay it. The scenario is somewhat reminiscent of Zorba, in “Zorba, the Greek.” When responsible people at the EU awakened to the fact that it was impossible for Greece to service its debt, it instructed Greece to find ways to economize. For a short time the Greek Government “cooked the books” but was soon found out and forced to begin to tighten its economic belt. Belt tightening has not been in their vocabulary for decades but what else could they do?
Typical of the left, those Greeks pointed fingers except at themselves and now want to abandon austerity. Despite the fact that they have no way to pay the money back they want their entitlements. Unions foment riots seen daily on TV in response to legislative grappling with the out-of-control economic situation. Were Greeks so stupid as to believe there would never be a day of reckoning? (Are U.S. Democrats/RINOs any different?) Did they really believe that EU membership would not exact a toll on its sovereignty? (Democrats in general could care less about U.S. Sovereignty.) Did they actually believe that borrowing more than the country could produce would have no consequences? Talk about arrogant!
Across the Atlantic in Washington, D.C. Democrats have the mistaken impression that the county’s wealth is theirs to give or take, and if taxes are not generating enough revenue, “raise taxes on the rich,” except that makes no difference; or borrow more from Communist China with the naïve notion that like Greece, it would have no consequences. In short those Democrats believe that the Federal Government owns the Country. Why did Democrats unilaterally enact "Obamacare" over the objections of the large majority of U.S. population? Just who is serving whom around here?
Democrat strategy has always been to overspend believing that the economy would expand, thereby generating tax revenues to cover the costs. Those days are gone! Increasing taxes on “the rich” would not work even if increased to 100% because there is not enough money even at the 100% rate to cover Democrat spending of the past three and one half years.
For decades Democrats have spent so much that as of now future generations of U.S. taxpayers will pay taxes that are so high they will essentially work to support careerist politicians and government programs. Stated another way, everyone will work for the government and the country will have arrived at Democrats’ socialist utopia. This prospect is both the essence and fulfillment of Obama’s and Democrats’ strategy to “spread the wealth around.” Although there is plenty of precedent to show that their model fails 100% of the time, liberals, whether in Greece or the U.S. believe under their leadership it will be different. Right! And donkey’s fly!
Copyright © May 8th, 2012, by Robert L. Pappas. With proper attribution, this essay may be quoted and redistributed, except it may not be used in conjunction with any advertisement without the author’s expressed written permission.