Tuesday, May 25, 2010

America Following Greece to Economic Ruin?

   Greece is a country in crisis and America will be soon. Both countries are flirting with fiscal ruin because of reckless government spending. 
   Greece has given us a stark picture of where endless government deficits lead. Faced with national bankruptcy after years of deficit spending, Greece is raising taxes, slashing pension benefits and cutting government wages. The severity of the cuts caused a public outcry by many who were led to believe that they were entitled to the benefits of a government-funded welfare state.
   But there’s another critical reason the debt crisis in Greece must matter to U.S. taxpayers: Our government is also on the path to fiscal disaster.

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