Site Map Icon
RSS Feed icon
Lessons from Greece
Updated On: Apr 25, 2013

Why the United States Is Not Greece

Even for those who understand that cutting deficits right now will only weaken a still-fragile recovery, and that weakening the recovery will only increase deficits, getting past the argument that “a eurozone crisis is on its way” is no easy task. Here is a self-defense lesson.

by John Miller and  Katherine Sciacchitano

For almost two years, we’ve been hearing a new battle cry in the war against government spending: unless the United States slashes deficits we will become Greece, Europe’s poster child for fiscal insolvency and economic crisis. The debt crisis in the eurozone, the 17 European countries that share the euro as their common currency, is held up as proof positive of the perils that await the United States if it continues its supposedly fiscally irresponsible ways.

Take the Heritage Foundation, the Washington-based think tank that specializes in providing red meat for anti-government pro-market arguments. Heritage introduces its 2011 chart on the rising level of government debt (to GDP) with this dire warning: “Countries like Greece and Portugal have suffered or are anticipating financial crises as a result of mounting debt. If the U.S. continues federal deficit spending on its current trajectory, it will face similar economic woes.”  Read more.

 


April 28, 2015
Member Login
Username:

Password:


Not registered yet?
Click Here to sign-up

Forgot Your Login?
Site Search
Site Map
RSS Feeds
<< April 2015 >>
S M T W T F S
1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30
Follow Us!
Facebook icon
UnionActive Newswire
 
Join the Newswire!
Updated: Apr. 28 (08:03)

On Workers’ Memorial Day, an Appeal To Control Toxic Substances
Teamsters Local 355
IATSE Local B4 - April Meeting Minutes and Election Results
IATSE Local B4
Legislative Update April 24, 2015
Laborers' Local 231
SWA FMT Negotiations Update #17
AMFA Local 32
Workers Memorial Day
Pennsylvania Federation BMWED-IBT
Sad News, Sister Ruth Marlborough has passed
IATSE Local B4
 
     
  Labor Start Actions  
     

 

Contact Elected Officials!
Action Center

Daily Updates on Legislation Affecting Labor
Inlandboatmen's Union of the Pacific-National Office
Copyright © 2015, All Rights Reserved.
Powered By UnionActive™
Visit Unions-America.com!