First is Greece, then Portugal, Spain and Ireland and US next?

All broadcasting stations are currently focusing on the Times Square bombing while the real “time bomb” is the economic crisis in Greece. Greece, of all countries has fallen prey to the glut of “big government spending” and the is succumbing to that age old adage regarding the “Downfall of Democracy”. The underlying context of this philosophy states that “A democracy will continue to exist up until the voters discover that they can vote themselves generous gifts from the public treasury. From that moment on, the majority will always vote for the candidates who promise the most benefits from the public treasury, with the result that every democracy will finally collapse due to loose fiscal policy, (which is) always followed by a dictatorship.” One only has to review the current affairs in Greece to relate to the situation in Greece. Rioters and protest marchers invade the capital because the steps being taken by the Greek government centers mainly on the over abundance of government workers. The package will cut public-sector wages and pensions for three years, a step necessary because they expanded public-sector employment so much that nobody even knows, for sure, the actual number of government employees.

While Greece flounders in self imposed strife, Portugal, Spain and Ireland lie in the wings awaiting a resolution before they drop their own bomb. However, it is fairly certain that it will impact us here in the states at some point in time, but will we be up to the task at hand. One can only hope for the best in light of a rising government employer, gross borrowing to feed the entitlement programs and runaway spending.