Friday, August 27, 2010

The US Economy - It's Greek To Me!

Our nation's economy is struggling. This spring, it grew only 1.6% and is expected to keep a snail's pace in growth. With such low growth, there will not be many jobs created and unemployment could actually get worse. I am not trying to paint a picture of gloom and doom, but I think we need to be realistic about our current reality. We need to know our situation and demand action from our elected officials to take the appropriate steps to resolve our economic woes. Taxing and spending is not a good economic strategy.

Consider the major economics Greece is facing. What caused their economy to meltdown? One of the primary contributors was decades of governmental overspending. According to a May 7 WSJ article, "Greece shows that the welfare state model of development, dominated by public unions, onerous regulations, high taxes and the political allocation of capital, has hit the wall. Down that road lies more Greek tragedy."

The US economy - it's Greek to me!

No comments: