EXAMINER PUBLICATIONS – MARCH 24, 2010
By Rich Trzupek
Chaos in the nation of Greece, now a wholly-owned subsidiary of the European Union, ought to give thoughtful Americans pause. The economic mess that the Greeks have gotten themselves into, which is nearly as bad as the economic mess in that the General Assembly and Democratic governors have gotten Illinois into, serves as an object lesson as to what happens when legislators create government mandates and entitlements that are simply unsustainable.
In Greece, the government can no longer ignore all those past due notices, as will happen in the United States down the road, and the citizens of that ancient nation can not bear with the thought of losing all the government-provided goodies they have gotten used to.
Part of the problem the Greeks have is an aging population. There are less productive young people to pay for the government programs that support increasing numbers of retirees. In Greece, you not only get to retire in your fifties, you are guaranteed a comfortable pension for the rest of your life when you do.
That model is not unlike what has been happening in Illinois, by the by. A compliant, short-sighted series of General Assemblies have gleefully created generous pension programs for some public employees and forced municipal units of government to fund the same kind of programs for others. Those of us in the private sector, who are in charge of our own retirement plans, are thus forced to set money aside for own golden years and those of an increasing number of public sector employees.
Pension woes are not all that ails Greece of course. Greeks became addicted to government over the decades and, as inevitably happens, government grew in size, power and, most of all expense. Sure, you can make the productive people pay more taxes in order to pay for all the great things that big government does, but eventually that becomes counter-productive. At some point, people get fed up working their butts off to pay for a growing class of freeloaders. Why bother? The well runs dry and government wakes up one day to find that there is no money left to pay for all the programs that it has put into place.
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