We Are Greece

Why do we argue if we are Greece or not? That’s as stupid as standing in the middle of a burning house with a pack of matches in your hand and saying, “but I didn’t light it.” Who the hell care? Your standing in the middle of a burning house. Got out.

I’m not a liberal intellectual like Paul Krugman. I can’t get away with speculating about the economy with unproven theories and flat out denial about the economic situation. I’m just a smuck like everyone else who experiences reality. If I don’t have enough money coming in, I must either earn more money or cut my spending. I’m responsible to do this because no one is going to bail me out. I can safely say I’m not Greece. I get no bailout. And you probably aren’t like Greece either.

I do know that the US Debt to GDP ratio is over 10%. (For the economically challenged this is not healthy.) The United States is 13 trillion in debt. And here comes Congress – like a seagull to shit over everything – to add another $500 BILLION in spending on top of everything else. This could happen by the end of the month. Are you serious that my concerns about the debt are only a ploy to attack Congress' spending on social welfare? Well, hell yeah. Otherwise it is the same as your spouse saying in response to your lay off, “It’s okay honey. Let’s go and get that new car and take that vacation anyway. We’ll just borrow more money and worry about it later.” Later is now.

No the US is not like Greece. California which must close a $20 BILLION dollar budget deficit is. Huge slashes welfare, school spending, hospital programs, etc. are needed. Not little cuts, deep cuts. It hurts all. But it slaps those who have grown dependent on government created ballooning bureaucracies, the government union.

80% of workers in the US have defined pension plans. Those plans are in the market. They have already taken a wallop in the debt crises of 18 months ago. Unions held firm on their strangled hold on government and you the taxpayer. Public sector employees represents just 15% of the workforce, but they are paid by federal, state, and local governments who are all at risk when these governments go belly up.

Begin to dump this workforce into the 10% already unemployed and what do you think won’t happen? Riots in the street? Because we are not Greece? I’m sure Greece didn’t even think this would happen. We are humans and we are all greedy. Give us something and then try to take it away. What will happen? Greece? Isn’t New Jersey getting a little contentious?

Interest rates are going to rise. The economy is going to choke on new taxes. What we need is a credible solution and that does not include $500 BILLION more in spending. Spending needs to be reigned in now or we will face drastic cuts. Congress hasn’t the stomach to do it. Idiots like Jack Krugman say we are not like Greece. If we don't get a grip, we will be. Please, you can hide under a rock if you want. I’m building an ark.