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America heading the way of Italy and Greece

Why do the Democrats continually want to spend money we do not have? Re-election comes to mind, with big benefits going to the labor Unions (exempted from Obama care) and welfare growing at an alarming rate. Both sectors encourage massive debt and are demanding more.

Entitlements and fat-cat union contracts in the public sector will further our indebtedness Nationally and especially on the local and State level. This fact has made Harrisburg Pa,; Boise, Idaho; Central Falls, R.I.; Greece; Italy; Ireland; Portugal, and others so financially unstable that major cuts in spending, is the only way to save them from total collapse (bankruptcy). We are headed there.

At present we (U.S. government) takes in $2 trillion a year in income; our national debt is $14 trillion -- seven times what we make. (Our credit rating was just downgraded because of debt-to-income ratio.) It is also predicted that another four years of Obama will generate another $6 trillion more debt for a $20 trillion total. No company, no individual, no government can withstand this debt ratio and survive. Yet, the Democrats want to spend more on programs that give them a warm fuzzy feeling; and will create only a few short term jobs.

The president just stopped a pipeline that would have created 20,000-plus permanent jobs, and would have eliminated 700,000 barrels of oil per day purchased from the middle east. Yet Obama blames the Republicans for not giving an "OK" on his jobs bill (stimulus). If Obama and the Democrats want to see where the problem lies; look in the mirror. You just made the USA send $700,000 dollars a day to the Mid East, and lost $2,400,000 in income taxes. Way to go.

JAMES BALCH,

Albany

Comments

QUIK 2 years, 9 months ago

Mr. Balch, has found the answers to the problems with economy in this country! Oh, I hope he is right. I won't waste his or my time with the back and forth on whose's the blame. (we should all know the politicans, citizens and the global connections all played a vital role). For those who believe that this country will get back to some heavenly level of financial, spiritual, moral purity without a global cure, I say keep dreaming. We have gone down a one-way path of no return. I say this because of the infighting in ALL governments, churches, families and especially the lack of forgiveness for those we disagree with (what if a family of 8 had 4 that wanted to travel east and 4 wanted to travel west? If they shouted insults at each other they would never leave the house) . As long as we keep pointing fingers, please don't expect the excusers to stop defending themselves. Whatever greatest this country had has long since disappeared, now it's us against them!!

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