Today I was reading two stories concerning the debt crisis in Greece. For more than three decades, Greece’s government, under both socialist and conservative control, has always caved to union and worker concerns by promising handouts and government services and support. Greece’s deficit is estimated to be 12.7% of Gross Domestic Product with the country’s overall debt way above 110% of GDP. The situation reached a crescendo when it was announced by the government of George Papandreou, that there was no more money in the state coffers. Papandreou went on to state that Greece would have to take austerity measures to deal with the debt crisis. This decision angered thousands of Greek civil servants, so much so that they protested at Klafthmonos Square, an area known to hold rallies for dissent.

In furthering the story, today, the European Union stated that it would give Greece financial support to meet the crisis and meet its obligations.

If one were to think that the United States is not walking in the same shoes that Greece is walking in, facing dire straits, think again. With Congress recently voting in favor of raising the national debt to $14 trillion, and with entitlements and unfunded liabilities rising on a massive scale, the question becomes now is how are we going to pay it all off? Will the United States government in the future become honest and admit that it has no more money? Will it announce in the future that the European Union, or, worse, Communist China, will give financial aid to meet the future debt crisis? The answer, I am afraid, will be “yes,” unless action is taken now and immediately. The United States, because of its debt, is traveling on a highway to hell. It can still put on the brakes and turn around. That is, only if it is willing.

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