If you have trouble envisioning what modern day socialism looks like, you
need look no further than Athens, Greece.
Aristotle once said, “Bring your desires down to your present
means. Increase them only when your increased means permit.”
The latest reports from The
Washington Post suggest that more than 100,000 rioters destroyed
or seriously damaged 93 buildings while police said at least 45 were burned.
They included nine listed as national heritage buildings, mostly in the neoclassical
style, while dozens of stores and cafes were smashed and looted.
More than 170
people were hurt in the rioting which also broke out in other Greek cities.
Authorities said 106 police needed medical care after being injured by gasoline
bombs, rocks and other objects hurled at them, while at least 70 protesters
were also hospitalized.
In order to
stave off a calamitous default, the Parliament voted 199-74 to accept rescue
loans amounting to $172 billion. Part of
the agreement means axing one in five civil service jobs over the next three
years and slashing the minimum wage by more than a fifth.
Greece has
been in a devasting recession for the last five years. Unemployment is 21 percent and it is
rising. Economists
fear that the bailout money will still not be enough to preserve social and
political cohesion in the face of growing unrest and political extremism.
Today, the
current occupant of the Oval Office unveiled
a $3.8 trillion spending plan. The new 10-year blueprint shows
annual deficits exceeding $600 billion every year except 2018. And the portion
of the debt held by outside investors would grow to $18.7 trillion by 2021, or
76.5 percent of the economy—a full $1 trillion higher.
It took Greece
four thousand years to reach the precipice of economic insolvency. This president is bringing a 236-year-old
republic to its knees. He’s up for
re-election. We cannot afford four more
years of his fiscal insanity.
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