Tea party Tax Revolt results in Martial Law

Winky

Winky

Well-Known Member
Who the hell will bail US out?

In 2013 when the Dems have handed all three branches of government
over to the Republicans, leaving them holding the bag,
will we face bankruptcy as a direct result of their actions?

Are we to big to fail?

The government will be forced into actions that will destroy
all that remained of this once great country.

If you though the One was bad wait till you see what’s coming next.

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Greece says bailout is only hope

ATHENS, Greece – Greece's only hope of avoiding bankruptcy is to take money from a joint EU and International Monetary Fund rescue package, the finance minister said Thursday during a heated Parliamentary debate overshadowed by the deaths of three people during protests against spending cuts.

Greece has to impose harsh austerity measures, including slashing salaries and pensions and increasing taxes, in order to get money from the euro110 billion three-year package, which will provide the country with loans from other eurozone countries and the IMF.

The loans are aimed at containing the debt crisis and keeping Greece's troubles from spreading to other countries with vulnerable state finances such as Portugal and Spain. The euro has sagged as those countries have seen debt downgrades, falling below $1.28 Thursday; late last year it was as high as euro1.51.
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source
 
P.I.G.S, Winky. Portugal, Ireland, Greece, Spain.

As to the beginning, other than being wishful thinking (majority rep), the Reps built this mess and handed it over to Obama. So far, he's fixing it. Depending on how well he fixes it will let you know what kind of chances your gvt has of taking the reigns of power back...so they can fuck it up even further.
 
MrBishop said:
Obama So far, he's fixing it.
Click to expand...

Where have you been, Canada?

Everything he's done is in the other direction of what is now
being imposed on Greece. I mean really, haven't you read any
news over the last year?
 
When will Obama explain to the American people what is happening to Greece & how it'll be different here, since he wants to place the same system here.
 
We know durn well he never will.
He'll keep on lying through his teeth to the very last
day when we boot his ass out in 2012.

The important question is will his replacement
be one whit different?

I can wish the new President would come into office and say:
this shit is completely fooked up and before this whole thing
capsizes we are going to implement the required austerity measures
before it’s too late!

Now how’s that for a pipe dream?
 
Obamanomics and Obamunisim

train-wreck.jpg
 
Coming to a theatre of war near you.

I'm confused, someone help me out here.
Are they rioting in Greece because they are bankrupt or
because now the government is finally repairing the damage?

Wouldn’t spontaneous national rallies proclaiming
support for a return to economic prosperity be
a more apt response?

Why are they setting fire to those policemen mommie?
 
It's the usual progression the left loves so much.

1/3 of the workforce in Greece is government payroll with really nice benefits. ( good perks like -- Hi-pay, short hours and 9 months paid vacation -- retirement at 28.568y/o with 400% salary and full medical and sexual benefits) Obviously this leftist wet dream is unsustainable, as you see now there and soon here.

Whats even funnier; the commie protesters want reform, they feel it isn't gooey enough for them.

There are several factions protesting, red flags with Molotov's are the commies.


r5606163387166.jpg

 
Re: Coming to a theatre of war near you.

Winky said:
I'm confused, someone help me out here.
Are they rioting in Greece because they are bankrupt or
because now the government is finally repairing the damage?

Wouldn’t spontaneous national rallies proclaiming
support for a return to economic prosperity be
a more apt response?

Why are they setting fire to those policemen mommie?
Click to expand...

1.) yep, on both accounts
(seems to me it's separate groups, joined up for the moment, but not really on the same exact page)
Kinda like here on some issues.

2.)maybe, if they can get the corruption out that started it in the first place.
 
SOURCE

Updated May 07, 2010
Greece Debt Crisis Coming to a Neighborhood Near You?

FOXNews.com

Some lawmakers and analysts are sounding the alarms over America's fiscal policies and deficits, warning that Greece's financial crisis could be coming to neighborhood near you.

Until its day of reckoning arrived this week, Greece lived for years beyond its means, borrowing money and spilling red ink to finance excessive government spending, offer socialized health care and provide lavish wages for federal workers.

Sound familiar?

Some lawmakers and analysts are sounding the alarms over America's fiscal policies and deficits, warning that Greece's financial crisis could be coming to a neighborhood near you.

"I'm very concerned we're headed down the same path as Greece," Rep. Cathy McMorris Rodgers, R-Wash., told Fox News. "Greece found itself in a situation where its public debt was 113 percent of its GDP. They had taken on all this debt, expanded programs and America is headed down the same path.

"If governments don't start tightening their belts, implementing balanced budgets and prioritizing and start saying we can't afford these bailouts for everyone, I don't see where it's going to stop," she said.

Greece is buckling under a debt burden of $388 billion, which is bigger than its $356 billion economy. Greece was facing a May 19 due date on debt it said it couldn't repay without a bailout. So Greek lawmakers voted Thursday 172-121 to approve austerity measures insisted upon by the EU and IMF worth about $38 billion through 2012 – that will slash pensions and civil servants' pay and further hike consumer taxes.

In the United States, the federal government is in debt about $12.3 trillion, which is roughly 80 percent of the nation's $13.3 trillion economy.

But some economists aren't worried that America will suffer the same fate as Greece.

"The United States government is a currency-issuing nation, our debts are denominated in dollars, we control the dollars," said economist Mike Norman who noted that Greece's debt is denominated in euros without the ability to create euros. "So it's functionally like a state in the United States or me or you or anybody else who's strapped for cash. If it doesn't have it, it doesn't have it."

"So the question of solvency or going broke or not having the money, as the congresswoman said, is totally inapplicable," he said.

But J.D. Foster, a senior fellow in economics at the Heritage Foundation and a former economist in the Bush administration, told FoxNews.com that America is headed toward its own Greek tragedy if it doesn't tackle its fiscal problems.

Foster said it's unlikely that the U.S. would try to inflate its way out of its debt. "Frankly it doesn't work and it's a self defeating approach," he said. It helps that the world's reserve currency is the dollar, he said. But he added that if bond investors lost trust in the U.S. like they did with Greece, the dollar will not save the country.

"I think what is more likely to happen is we are headed toward a crisis and we'll deal with it, either be enacting a large VAT (value added tax, or national sales tax) or not enacting a VAT and slash spending back. But one way or another, we'll address the situation. The problem with Greece, it's doubtful they will do what is necessary."
Click to expand...
 
SOURCE

Updated May 07, 2010
Greece Offers a Frightening Glimpse of the Future

By John Lott

- FOXNews.com

Greece is a warning sign that the market doesn't like what it sees. What is really spooking international markets is the glimpse of the future that other countries face.

Greece is a small share of the world market, and Athens is almost 5,000 miles from New York City. Yet, the wild swings in the stock market on Thursday stem not from Greece’s size, but from what it tells people about the future for other countries. On American’s current path, Greece’s current woes will be our future. From slower economic growth to having less money for their retirements, Americans have a real stake in learning from Greece’s errors. Hopefully, the 347 point drop in the Dow Jones Industrial Average yesterday and the over 700 point drop since Tuesday will get Washington's attention.

The violent demonstrations in Greece are showing how incredibly hard it is to control government spending once programs are started. Even just cuts in the growth in spending are meeting stiff opposition.

The country has been offered what should be a very attractive deal. The European Union and the International Monetary Fund will give Greece below market interest rate loan of $141 billion in exchange for restraint on spending, but that is proving too much for many Greeks.

Greece is simply confirming investors worst fears. It was so easy for politicians to give benefits to voters and put them on credit so the tab could be put off for years. But when countries start having problems paying back their debt, they are a greater credit risk and the interest rates that they have to pay will rise. With that increase in rates, what were once difficult loans to pay back suddenly appear impossible.

The World Bank lists Greece's external debt at $582 billion, an amount equal to about 170 percent of their GDP. By contrast, the U.S.'s external debt is $13.8 trillion, but our GDP is much larger, so our debt equals about 96.5 percent of GDP. Our problem is that the Obama administration plans on increasing our federal government debt over just the next ten years by another $10 trillion. And this is likely to be an underestimate. For example, recent government estimates also indicate that President Obama's health care program will cost significantly more than what was estimated just a couple of months ago. Given current trends, we could be in Greece's league before much more than a decade goes by.

There are real costs to this debt burden. Carmen Reinhart of the University of Maryland and Kenneth Rogoff of Harvard showed in a study earlier this year that countries whose gross public debt exceeded about 90% of GDP grew about one percentage point slower each year than countries whose debt was below that level. They grew about two percentage points slower each year than countries whose debt was below 30 percent of GDP.

Greece is a warning sign that the market doesn't like what it sees. But what is really spooking international markets is the glimpse of the future that other countries face.

John R. Lott, Jr. is a FoxNews.com contributor. He is an economist and author of "More Guns, Less Crime" (University of Chicago Press, 2010), now in its third edition.
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Re: Coming to a theatre of war near you.

Gonz said:
"They" are Union Members & Communist Party members. Of course they're rioting because someone is trying to fix it.
Click to expand...

there are also those melding with them that just want the corrupt politician out
that caused it.

Look at it like it's here.
If this congress, senate, and pres. decided to, and passed law to to now
fix OUR problem quickly, What do you think would happen?
 
Tax Revolt results in a balanced budget.

Cat the majority of Americans would say Hallelujah
Sadly it will never happen.
 
Hallelujah what?

They trust this government in place atm to do what they say?

See the problem isn't what they Say they are going to do (the idea)
it's that they are corrupt, and can't be trusted not to twist it.

There's got to be something SEEN, before Trust can occur.
Just like with the immigration.

If they don't DO what is supposed to be done, that is already Law,
there will never be support like it should be, on Anything.
 
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