Search the Lounge


« Oscar Countdown: Day 21 | Main | Ken Starr: From Malibu to Waco? »

February 14, 2010


Feed You can follow this conversation by subscribing to the comment feed for this post.

Eleftherios Venizelos

Most of these criticisms of Greece come down to a neoconservative preference for military spending and corporate bailouts that benefit large companies, along with animosity towards health and pension programs that benefit the majority of a country's population. The United States had debt to GDP ratios that exceed Greece's ratio today in 1789 and 1942 (US debt to GDP ratio of 120% in 1942). Why is debt and deficit spending OK for war but not human needs? The US had a deficit of at least 12.3% of GDP in 2009 but this author and The Economist do not call that "horror" because most of it is due to excessive military spending, including large Medicaid costs due to traumatic brain injury that are never discussed. More importantly, this blogger has no proof that a high debt to GDP ratio causes slow growth or unemployment, because 1950s USA and 1990s and 2000s Japan had virtually full employment with high debt to GDP ratios and high marginal income tax rates. It is simply neoconservative prejudice to claim that Greece is doomed and somehow Brazil, India, Turkey, or China are in good shape with their illiteracy, hunger, lack of health care, exploitation and abuse of workers, slaughter of indigenous peoples, undemocratic social structures, censorship and cultural unfreedom, etc.

Chicago bankruptcy attorney

It seems Greece doesn't want to live up to the commitments it made oh so very recently when it got bailed out by the EU.

The comments to this entry are closed.


  • StatCounter
Blog powered by Typepad