Thursday, February 25, 2010

Worker's Strikes Paralyze Greece; Preview of Things to Come in America?

This is a good article from Wall Street Journal (free, no less) on how there are now major strikes in Greece due to the government's austerity measures. "Austerity" (I didn't know what this meant, to be honest with you) means "strict economy", in which entitlements and other items in a state budget are slashed. In Greece, this is due to their budget deficit being 13% of GDP.

While I don't know the extent of what actually needs to be cut, as I'm not a Greek and all of that, I have to ask: How come when something like this happens, the average working stiff is the first person who is expected to give up his modest lifestyle, while the politicians and the banksters continue to live high off the hog? Especially since, in most of these cases, it's the latter whose policies lead to messes such as this.

There might not be so many riots if "austerity" applied to everyone.

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