Why the debt crisis in Europe matters to American families

You are currently browsing comments. If you would like to return to the full story, you can read the full entry here: “Why the debt crisis in Europe matters to American families”.

  • The domino effect will no doubt be disastrous for all of the EU if Greece starts the wrecking ball rolling, as Tony’s cartoon so perfectly depicts here. I view this whole situation as the direct result of the European Socialism model proving just what happens when government co-mingles/ interferes with/takes over the private sector. Everyone ends up in poverty. This is also the exact model of government that Barack Obama is installing in America today. They say they are for the middle class and the poor, but look at who gets hurt the worst under the austerity measures.. the working class that ends up paying the huge tax increases that must be levied eventually. In 2010 Greece’s U/E rate hit 13% and now approaches..a whopping 17%.

    http://www.tradingeconomics.com/greece/unemployment-rate

    No wonder they were rioting. Will America be the next Greece?