Why America faces a big fat Greek bankruptcy

Root for America
by Wayne Allyn Root

05/05/10

Greece’s problem is Europe’s problem … and following closely behind, America’s problem too. We’re all Greeks now. Quite simply, Greece’s problem starts and ends with government employee unions. There are too many government employees (1 in 3 Greek citizens works for government); their salaries are way too high; their bonuses can only be described as insane (2 months for each public employee); their pensions are ridiculous (retirement far too young and free healthcare for life); and their government jobs are guaranteed for life. Sounds crazy, right? Sounds like in Greece the inmates must be running the asylum. Except America has the exact same problem...

//rootforamerica.com/blog/index.php?entry=entry100505-143902


Informant: Thomas L. Knapp

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UK budget deficit 'to surpass Greece's as worst in EU'

European commission's spring forecasts put UK budget deficit this year at 12% of GDP - the highest in the European Union and worse than Treasury estimates.

//www.guardian.co.uk/business/2010/may/05/uk-budget-deficit-worse-than-greece


From Information Clearing House

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Euro crash a surprise?
//www.brasschecktv.com/page/840.html



//freepage.twoday.net/search?q=Greece
//freepage.twoday.net/search?q=Greek
//freepage.twoday.net/search?q=budget
//freepage.twoday.net/search?q=deficit
//freepage.twoday.net/search?q=bankruptcy
//freepage.twoday.net/search?q=Wayne+Allyn+Root
//freepage.twoday.net/search?q=Stiglitz

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