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The Greecing of America, Simplified

Posted on June 22, 2010
Filed Under Economics | 1 Comment

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The repercussions from Greece’s fiscal crisis are starting to ripple around the world. But are lessons being learned?

Thousands of Greeks have violently rioted against their government because the game is up. For years, the Greek government made spending promises to its people that it could never keep (much like a Bernie Madoff-style Ponzi scheme).

When taxes couldn’t cover the cost of spending, the Greek government took out loans. Loans quickly turned to a debt so large it’s 115% the size of Greece’s economy.

Unfortunately, the U.S. is doing the exact same thing. Watch the video to find out more and, if you approve of the video’s message, please pass it along to others.

It’s too late for Greece. But it’s not too late for us. We can still cut spending and save our economy from crisis.

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One Response to “The Greecing of America, Simplified”

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