It's Greek to me

Greece is bankrupt. Like Italy, it hired most of its’ citizens as civil servants and the rest depend on tourism. For a while, they became unionized civil masters and extorted the entire total tax revenue and then some from their hapless, but complicit politicians (sound familiar ?). Now they have no money and have a federal debt the size of their GDP (see USA). Now it’s over. The civil masters are being laid off and their pensions are in jeopardy. They need to reduce government expenses and develop a private economy to pay for whatever nonsense is left.

Fast forward to the full socialism prescribed by the Democrats and you’ll see something like Greece or even California without a federal government to give it money. We can call ourselves the United Socialist States of America until we get a grip. Unless we reverse the current government spending trend and pare back our federal spending to match revenues and pay off our national debt and unfunded liabilities (think $100 trillion), we will be Greek. Our Federal Government will be in default. It can monetize the debt (print money) and invite hyper-inflation, or hunker down and lop trillions off our federal government liabilities, or continue to farm out our debt to China and Japan and get ready to pay $1 trillion a year on interest only. If that happens, we should cap other federal spending at $1 trillion a year, so we can pay off $500 billion in principle. Now does Ron Paul make sense ? How many of our 700 military bases can we close ? The government doesn’t encourage us to have interest only mortgages any more, so why should they have one. Why doesn’t the government have to pay part of the principle with their payment like we do ?

This will all be lost on future generations unless we document this debacle. We should construct a Declaration of Dependence and have all current and deceased Progressive Democrats and Republicans sign it. After they’re dead, we’ll hang them for treason.