Greece: A Preview of Things to Come

"Angry youths rampaged through the center of Athens, torching several businesses and vehicles and smashing shop windows. Protesters and police clashed in front of parliament and fought running street battles around the city," reported the Wall Street Journal last week.No, this is not a report from a war zone. It is merely a scene from anti-government protests that have engulfed the land of Hellas.What's happening in Greece is this: The Greek people are angry because their government pledged to make cuts in social spending.It is not that the Greek government is inherently stingy. Quite to the contrary, the Greek government has been one of the most generous when it comes to paying for social goodies...so much so that for years it spent far more than it could really afford. Fox News correctly observed that "Greece lived for years beyond its means, borrowing money and spilling red ink to finance excessive government spending, offer socialized health care and provide lavish...(Read Full Article)

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