Greece is broke. The Greek government gave away too much in entitlements. The European bailout requires them to make cuts. The public refuses to let the government make cuts. They have taken to the streets with riots. People are dying. Sound familiar? Los Angeles is broke. The city has duplicated what Greece has done. The only solution is to do what Greece is trying to do. How will their residents react?
Obama is trying the Greek model. Chris Christie is trying to make Greek cuts in New Jersey. A state not noted for reasonableness. Will
the good people of New Jersey take the cuts or react the way citizens of Greece are responding? How bad can it get here in America? With the media whipping up public frenzy by refusing to support the obvious need to cut budgets, are we sitting on a tinderbox somewhere in this country, waiting to blow.
California, Michigan, Illinois, Arizona and other states are trying to make cuts but avoiding the inevitable by not doing what Christie is doing. Do they fear a Greek-type backlash?
Watch carefully what is happening in Greece. It may be here before you know what happened.
This is serious business. With five states virtually bankrupt and many major cities in similar shape, the debt bomb is ticking. These government entities are going to be forced to retract retirement benefits they can’t fund. They are going to be compelled to cut personnel and payrolls. They will be forced to cut entitlements they have put into place, but can’t afford. People are not going to be happy. I spend time in tow of those states, Illinois and Arizona. Every effort to make cuts is met with protests. The media coverage is always pro-protesters. This just adds to the problem.
Eventually the cuts will be so severe that the protests will get bigger and bigger. It’s just a matter of time until some turn ugly.
We are sailing into choppy water brought on by entitlements we can no longer fund. Meanwhile, Obama and the current administrate is adding entitlements. And, adding to the deficit and debt.Ultimately, this debt bomb will explode.
Unless groups like the Tea Party are heard, we are headed for times that will make the past 3 years look like child’s play.
This is why the November elections are critical. Obama seems indifferent to the issue or even the destruction of the Democratic party. He may be sincere when he says he doesn’t care if he’s a one-term president. Pushing the radical agenda quickly seems paramount. Damn the torpedos, get the social reform done and if chaos happens, let it happen.
Blame Wall Street, greedy banker, Bush, capitalism, and all the other demons he can conjure up to push to the public. If makes one wonder if this isn’t the master plan.
