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How Broke Is Greece? This Broke

A pedestrian walks by as a homeless man sleeps on a metro air vent above an underground station to warm up as at the background a huge Greek flag is seen in Omonia Square, central Athens, on Tuesday, Feb. 26, 2013. Greece’s annual gross domestic product is set to contract by 4.5 percent this year, the report said, which matches revised government forecasts. Successive tax hikes and state spending cuts have pushed unemployment up to 27 percent, according to data for last November, while 61.7 percent of workers under age 24 are jobless. Credit: AP
BERLIN (TheBlaze/AP) — The Swiss branch of the Red Cross says it is cutting its supply of donor blood to Greece because the country has failed to pay its bills on time.
The head of the Swiss Red Cross’ transfusion service says the number of blood packets delivered to Greece will be halved to 14,000 by 2020.
Rudolf Schwabe on Tuesday confirmed Swiss media reports that Greece had run up debts of several million Swiss francs (dollars) in the past.
Those debts have been repaid but Schwabe says the non-profit SRC took the decision to limit its financial risk.
The Swiss blood sent to Greece comes from unused emergency stockpiles. It helps meet high demand in Greece caused by the prevalence of thalassemia, a genetic disorder whose carriers need regular blood transfusions.
Swissinfo.ch has more on the need for blood in Greece:
Annual shipments of around 28,000 blood pockets to Greece have been considered part of the SRC’s humanitarian mandate. Around ten per cent of the Greek population suffers from thalassaemia, an inherited blood disorder that results in the excessive destruction of red blood cells. This in turn leads to anaemia.
People suffering from thalassaemia cannot donate blood, so the Greek authorities rely on Swiss imports to make up for blood shortfalls, given that most European countries do not export. Some patients require transfusions every three to four weeks, often relying in Greece on family and friends as donors.
However, two months ago, the Swiss transfusion service signed a new contract with the Greek health ministry that will become effective in 2015 and will see the number of blood pockets delivered eventually halved from 28,000 by 2020.
The United States used to also purchase blood from the Swiss but stopped that practice in the 90s when mad cow disease struck.
This story has been updated.
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Comments (106)
floydhowardjr
Posted on February 26, 2013 at 10:15amComing to America courtesy of Obama. Soon at a hospital near you.
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JRook
Posted on February 26, 2013 at 10:34amOf course you have a context for your statement. How is it that whenever there is a spending problem like the $10 trillion run up under Reagan, Bush Sr. and Bush Jr. it is congress, but when it is a democratic PRESIDENT somehow it becomes the his issue. Take the time to actually educate yourself to the FACT that Bush Jr. left office and handed the PRESIDENT a $1.2 trillion annual deficit run rate and the worst recession since the 1930′s. But hey why let facts get in the way of feeding the angry mob.
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M13
Posted on February 26, 2013 at 10:50amMore lies and stupidity from jrook. It never gets old does it?
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drhusker66
Posted on February 26, 2013 at 10:51amOf course Jrook considers his “messiah” as the poor soul who was left this mess. Where was his “messiah” when he was in the Senate? The man voted for every liberal spending bill that came by him, and bashed the sitting President at each turn. Now the shoe is on the other foot and he is very upset because no one treats him fairly. Hey “Crook” how about you and your liberal trolls spend more time sucking on the teet of Bob Beckle and Chris Matthews, and less time talking about things you have no idea how to fix!
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ThankYouFounders
Posted on February 26, 2013 at 10:52am@Jrook,
I noticed several flaws in your ‘story’. One, while you tallied the $10 trillion,I noticed you completely left out the 8 years Clinton was in office. I also noticed your blatant lie about W leaving Obama with some perpetual $1.2 trillion dollar annual deficit. W never had a trillion dollar annual deficit and in fact had paid down the annual deficit to around$100 billion going into 2008 (down from over $500 billion in 2004). He was able to pay this down due to record high tax revenues of $2.5 and trillion dollars in 2006 and 2007. Oh, the unemployment rate was 4.5% and the national debt was $7 trillion when the Democrats took control of both houses in January 2007.
Fast forward to today. Obama took the emergency spending of late 2008 and made it the new normal, the new baseline and has run trillion dollar deficits each year in office without producing a formal budget and spending around $3.5 trillion each year. He can’t blame the lack of tax revenues anymore because in 2012 the tax revenues were just short of the same record numbers produced under W. Yet, instead of having annual deficits (or surpluses as W had for a few years where he paid down the budget deficit) Obama still has trillion dollar deficits even with full control to do whatever he wishes.
It’s all on you. Stand up and be proud.
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Shamrock241
Posted on February 26, 2013 at 10:57amJrook you had to name 3 Rep. Presidents to get to 10 trillon, Dem. OSAMBA spent 6 trillon in 3 and a half years. How about you except those facts.
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crusaderx9
Posted on February 26, 2013 at 11:43amFACT: obama became president in January 2009 and asked for and received MORE spending.
FACT: obama signed the 2009 budget AND also signed additional spending in 2009.
FACT: obama was a Senator in the democratically controlled Congress in 2008.
FACT: obama as the democrat party leader has not ensured that Sen Reid (a democrat) stop blocking the annual US budget – we have NOT had a US budget in any year of obama’s presidency and his first two years the democrats had full control of the Senate and the House.
FACT: “W” did not have an annual deficit that exceeded $400 billion until 2008 when he fought the democratically controlled Congress and their out of control spending. BUT “W” was president so he gets the blame, JUST AS obama gets the blame from 2009 until he leaves office. The president is responsible and accountable.
“Barack Obama was a part of this massive deficit as a congressman [senator] in 2007 and 2008 as he is president now [>4 years]… Why didn’t he fix it when he had total control by a supper majority in congress 2009 to 2010?”
National Debt: 02/15/2013 $ 16,548,926,805,129.36
When Obama was inaugurated on January 20, 2009, the National Debt was:
$10,626,877,048,913.08
When Bush was sworn in on January 20, 2001, the national debt was $5,727,776,738,304.64.
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JeanetteVictoria
Posted on February 26, 2013 at 12:02pmJRook are you being *paid* to be that stupid?
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RANGER1965
Posted on February 26, 2013 at 12:34pmIgnore JROOK, he’s so far outa his league that he isn’t even in the same star system. He just doesn’t realize it.
A superb measure of a nation’s true financial state is how it treats the small foreign vendors. Large vendors such as banks and other nations can be delayed, bought off, and manipulated with deals other than paying off the debt. The same is true for internal vendors, they can bought off with tax deals, and other things.
But with small foreign vendors it’s money or nothing….(and no, the chick’s are not free). If a nation has to delay, or cannot pay their small investors then this is a good sign that regardless of the hype, they are in real trouble.
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Obama_Sham
Posted on February 26, 2013 at 12:38pmLOL at both sides… It was the dems fault, it was the reps faults… When will you people learn it was our faults for allowing both sides of the political machine to play us and run the debt up?
Now, back to your finger pointing…
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pagraywolf
Posted on February 26, 2013 at 1:11pmJrook –
So then why hasn’t Obama done anything productive about it? No, he just added to the debt at an unprecedented rate. He’s fighting the cuts his White House wrote up saying that 2% is too much of a cut! What a hypocrit.
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RNM
Posted on February 26, 2013 at 1:29pmSorry, but almost any recent candidate for POTUS from either party would have racked up the same amount of debt, give or take, considering the panic our economy had experienced. Not saying it was the right prescription for what ailed us, but everybody save somebody like Ron Paul would have done exactly the same thing on fiscal policy.
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dblaess
Posted on February 26, 2013 at 1:40pm@JROOK
Do you get phone calls like Harry Reid, White House talking points emailed to you, or just make them up as needed? By the way do you get paid by the word or by the post?
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sillyfreshness
Posted on February 26, 2013 at 2:44pmWTF, many Greeks need regular blood transfusions due to a genetic disorder?
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naughtycal
Posted on February 26, 2013 at 3:04pmJROOK,
You can’t rise to the level of imbicile you’re so effing indoctrinated. When Reagan left office the deficit was less than 4 trillion that’s 2 trillion more than when he entered office. When Clinton left office the deficit was almost 6 trillion that’s 1 trillion more than when entered the office,when Bush left the office the deficit was 10 trillion thats 4 trillion more than when he took office (those were all 8 year president)
When Obama got re-elected the deficit was 16 trillion that’s 6 trillion more than when he was elected.
BUT DON’T LET FACTS GET IN THE WAY OF YOUR IGNORANCE.
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Patferr
Posted on February 26, 2013 at 4:00pmJRook – You show your complete and total kool-aid drinking “excuses” for Obama, as well as your Ignorance. Obama wasn’t handed anything like the “worst recession since the great depression” but Obama’s recovery is even S L O W E R than FDR’s 4 year malaise as he played with social programs which extended the depression much longer than it should have been, which is what Obama is doing sparky. You need to educate yourself and realize that Obama was in the Senate and approved all the spending that was done during Bush’s 2nd term, so he was just as much to blame as Bush, But you say Bush left him with a 1.2 trillion deficit, that’s BS. Bush bailed out GM on Obama’s request, and it was Barney Frank and Christopher Dodd who screwed up the housing market, both democrats, and before the Democrats took over in congress, the deficit had been going down, and was around 300 Billion, but it went up exponentially, as democrats refused to present a budget of any kind, and they just started spending, Obama is the one who had the Trillion dollar deficit, that wasn’t Bush’s, sorry, that was the STIMULUS 800 Billion that Obama got in early 2009, even though the “fiscal year” had not ended when Obama took office, so they tried to tie all that spending to Bush, it was Obama who spent all that, not Bush, sorry, no history revisionist crap here.
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Trick
Posted on February 26, 2013 at 11:11pmAmerica is Greece
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puravida56
Posted on February 27, 2013 at 4:31amYou guys are ridiculous.
‘Its Obama’s fault!”
“It’s Bush’s fault!”
“It’s the democrat’s fault!”
“Its the republican’s fault!”
Neither party cares about the debt. neither party cares about our future. Both parties only care about staying in power and they will spend and print as much money as they need to keep constituent groups happy. I don’t even know how you can tell them apart anymore.
Yet, people identify with a party, so it must be the other guy’s fault. WAKE UP! Both sides are just sheep baying in the wind.
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JustMyOwnOpinion
Posted on February 27, 2013 at 3:54pmJROOK –
ObamaCare was passed by a Democrat House and a Democrat Senate. That is the main source of the deficit. Remember–it had to be passed to see what was in it. What was in it was future rules/tax increases/coverage limitations to be determined. They are being determined now, by Obama and his appointees. They are, without Congressional oversight, coming up with many more taxes for us and the spending is going through the roof. I can’t afford it.
When Reagan was in office, he was promised spending cuts to go with the tax rate cuts. The spending cuts never happened–in fact spending actually increased. Because of the tax rate cuts, tax revenues went up. Because of the spending increases, which were larger than the the tax revenue increase, the deficit went up. If spending has not increased, the deficit would have gone down.
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davidwjohnson
Posted on February 26, 2013 at 10:13amMan is the only life in the universe that resets we each generation. It is done so by the Creator with the expectation man is intelligent enough to evolve into a better self.
No other life form is given this opportunity and thus it lives under the direction of evolution.
It makes you wonder which is best suited for survival.
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Liberalismsamentaldisorder
Posted on February 26, 2013 at 10:13amAnd they say you can’t predict the future.
This is America before Obozo’s second term ends.
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3monkeysmomma
Posted on February 27, 2013 at 10:42amActually we are more similar to Spain in terms of making THE EXACT same mistakes about four years behind them….not much comfort, huh?
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Gonzo
Posted on February 26, 2013 at 10:12am…and Obama continues to fight a 2.5% decrease of the INCREASE in spending. The definition of insanity.
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M13
Posted on February 26, 2013 at 3:38pmWhich was his idea and it was Obama that signed it into law. What an idiot.
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BlackCrow
Posted on February 26, 2013 at 10:08amAll it would take for us U.S. to be in the same shape would be for the interest rates on T bills to return to their historical averages. The debt service would swallow the vast majority of the federal budget, Social Security and the rest of the non-discretionary spending would either go to service the debt or there would be a default on some or all of the federal debt. At this point the Federal Reserve would be the only buyer of U.S. paper and the country will be owned by the major banks. That is IF those banks chose to continue buying treasury bills.
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tharpdevenport
Posted on February 26, 2013 at 6:48pmSocial Security is already dead; it’s been broke for something like two decades, with the goverment borrowing from it and writing, essentially, I.O.U.’s. The goverment is taking money out of it’s Left pocket and putting it in the right; it’s writing an I.O.U. to itself.
It’s reaching, however, a new, SPECIAL kind of broke, where it will put out more money than it takes in. So now the SS which is being robbed for money, will be robbing another progam for money.
But don’t worry, the economy is blazing back to life, according to out fearless Golfer-in-chief.
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toledofan
Posted on February 26, 2013 at 10:05amJust look at of all the suffering that is being caused by socialism, marxism, communism, and any other ism, it doesn’t work. You would think that people would be smart enough to see the error of their ways, but, no way. So, what is obvious, is that, those who have the wealth passed down are the ones who are supposed to reap all the benefits, all others just wait for your scraps. It’s amazing to me that we, after the Revolution, the Civil War, WWI, WWII, Korea and Vietnam, basically all the blood shed for our freedom, that we would capitulate to a democratic party hell bent on taking away all those freedoms for some socila engineering experiment. Especially one we know doesn’t work any place else.
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kunman
Posted on February 26, 2013 at 10:16amHuman nature dictates that we here in America will need to go through the same suffering before the left will open their eyes and see what a tragedy they have caused. USSR went through it. It’s a shame that we can’t learn from their mistakes.
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dnewton
Posted on February 26, 2013 at 10:24amI don’t see anyone taking responsibility for a failed system. I don’t see any effort to stop the cause to prevent further effects. The answer to addiction to socialism seems to be more addiction. We have the same problem. We do not demand efficiency, we can not even agree that efficiency is better than waste, especially when it is all for the children. In fact, we are taught that efficiency does not matter because the wasted money “multiplies.” via Keynesian Economics. The best lesson is a bought lesson and we have to overcome decades of free lessons at the hands of our socialist leaders.
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sandrunner
Posted on February 26, 2013 at 10:04amThe Persian King should of bought the debt from greece to own greece. instead he fought 300 spartans.
how stupid.
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SREGN
Posted on February 26, 2013 at 9:53amThe Imbecile-In-Chief”s financial model.
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JohnofOregon
Posted on February 26, 2013 at 10:10amThe administration said this morning they will keep printing money through the year because of a weak US economy. That brings up two questions,
Everyday weare told the economy is growing?
The second is, do these idiots in DC know what fiat money is and what France did leading up to World War II?
I doubt because most of the DC crowd is drooling on themselves with with their inbred Hapsburg tongues.
You also have to remember that many of the hill staffers are supplied from Ivy League indoctrination schools and our congress coolest these idiots.
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starman70
Posted on February 26, 2013 at 10:16amAMEN!!!!!
rql.lc
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VetMike
Posted on February 26, 2013 at 9:44amI just wish that Greece and the rest of the Socialists countries in Europe would just fall into the abyss. I’m just tired of the brinkmanship. I know that it MAY lead to a war but they need to eat the fruit of their stupidity.
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Lloyd Drako
Posted on February 26, 2013 at 10:18amAny American who rips on the Europeans for their “brinkmanship” has a pretty massive beam in his eye. Debt ceiling, fiscal cliff, sequester–ring any bells?
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objectivetruth
Posted on February 26, 2013 at 11:36amThe only reason they haven’t so far is that we the american taxpayer have been indirectly supporting them.
In terms of defense mainly.They didn’t have to pony up for it.They ended up with too much free cash.Well when you have spend a holics as reps there is no surplus.That is true of them and for us.
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PaulHausser
Posted on February 26, 2013 at 9:42amGolden Dawn. The only chance they have got.
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Fubared
Posted on February 26, 2013 at 10:00amIf the only thing showing potential is a nazi group, they are screwed indeed. They didn’t get here overnight. The Greeks can recover, the hard way, not by going nazi.
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Fubared
Posted on February 26, 2013 at 10:36amEven the real Germans have said no to the nazis.
http://hosted.ap.org/dynamic/stories/E/EU_GERMANY_POLITICAL_PARTY_BAN?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2013-02-25-14-56-16
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txswalker
Posted on February 26, 2013 at 9:34amGreece Motto: Hey this socialisim thing is working out for us better now than it ever has before!
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NigelTufnel
Posted on February 26, 2013 at 9:26amGreece’s best hope is for the economy of Europe to get better so they could grow their way out of this mess. If they calculate unemployment like we do, then they could be looking at an employment rate of less than 50%. Now with the pustules of socialism spreading through Italy like wildfire the entire southern Eurozone is at risk. Extended levels of chronic unemployment like this generally lead to complete revolt. But as you can see now, Europe has been globalized. Greece’s government and citizens see their problem as a world problem. As if it’s someone else’s to take care of. Unless Europe bounces out of their recession soon, this disease will spread quickly. A Greek-like crisis in Italy and Spain would end the Union. It would bring the entire experiment down.
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Eastinfection
Posted on February 26, 2013 at 9:43amThe experiment has already failed.
The EU looks like Geraldo still digging away in Al Capone’s obviously empty vault.
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Eastinfection
Posted on February 26, 2013 at 9:23amGreece is so broke they have to eat cereal with a fork to save milk.
Greece is so broke they have to hang their toilet paper out to dry.
Greece is so broke that when Greeks go to KFC, they have to lick other people’s fingers.
Greece is so broke that children from Africa send them money.
Greece is so broke ducks throw bread at it.
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Dirtdigger67
Posted on February 26, 2013 at 9:45amGrease is so broke they can’t afford blood!
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THX-1138
Posted on February 26, 2013 at 10:06amGreece is so broke it has to take the trash *in*.
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bumfuzeled
Posted on February 26, 2013 at 10:28amGreece is so broke it can’t pay attention
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Zipit
Posted on February 26, 2013 at 1:52pmHow broke is Greece? “CALIFORNIA BROKE!”
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The Big Mick
Posted on February 26, 2013 at 9:21amRANGER.
Did you ever run my “Big Mick Pledge for Candidates” through your (it was you wasn’t it?) John McCain 1-10 RINO to Real Conservative Spectrum?
It’s over on the “Political Spectrum” piece now.
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AnAmerican111
Posted on February 26, 2013 at 9:12amGreece is OBAMA’S America…..
He is nothing but a liar and a criminal!
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Dirtdigger67
Posted on February 26, 2013 at 9:43am@america I think it might actually get worse here when the shtf !!
The good news is our great dear leader will take care of us NOT!!
Get your guns and ammo while you still can . Oh shoot that’s right
You can’t get ammo well get your slingshot ready !
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progressiveslayer
Posted on February 26, 2013 at 8:49amThe wonders of socialism at work in Greece and our Marxist POS is just as bad because he’ll make everybody equally poor here as well. Except for the ruling class of course they’ll live in the lap of luxury because we allowed them to attain too much power.
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Snowleopard {gallery of cat folks}
Posted on February 26, 2013 at 9:15amExactly, and we will become Greece, and collapse even further until the nation ceases to be.
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ChiefGeorge
Posted on February 26, 2013 at 9:53amGreece became debt slaves who refuse to work….those debt slaves who refuse to work and live totally off the government will be retrained via the crisis they themselves have caused by begging for work to earn enough money to eat. They are going through the classic attitude adjustment. Just like Americans did via our great depression. They’ll come around! Are situation is just getting started over the past several years. When it comes to a head, the self entitled will quickly learn the value of hard work and earned pay. The dollar or whatever they will use as valued exchange article will again have some meaning…..you won’t be throwing hundreds of dollars a month away on fancy starbucks coffee and placing it on your credit card with interest. Thats what we have been doing.
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netmail
Posted on February 26, 2013 at 11:48amRussia said “we will bury you” but I believe it is the Chinese (and others) who will own us. ( one piece of real estate at a time) I doubt anyone wants Greece, so they’ll be left to die on the vine. The U.S. will be taken over by it’s creditors. I don’t know which is worse, that or “the vine”.
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PAUL GULLO
Posted on February 26, 2013 at 8:44amI thought the Red Cross was just so wonderfull and helpfull, what a crock.
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BLAZE-READER1
Posted on February 26, 2013 at 8:56amIf the Red Cross gives too much blood to Greece and does not get paid, how is it supposed to help other countries that need blood?
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NigelTufnel
Posted on February 26, 2013 at 9:09amI thought it was for the……children. Everything we do is for the children. Raising taxes keeps people from raping…..children. You don’t want to hurt the children do you? Everybody needs paid. Even Obama. I don’t see him turning down his paycheck or giving it to the……children.
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sadlerts
Posted on February 26, 2013 at 9:23amWe do everything for the children: including aborting them.
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MK2
Posted on February 26, 2013 at 9:59amDon’t the BS that our service men&women get the blood they need from the Red Cross they are not very supporteve of our troops.Most of the blood the troops get is from fellow troops and the families of the troops
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chips1
Posted on February 26, 2013 at 10:08amPAUL:
Your post just hit the nail on the head. When someone provides help to another person, they turn against their benefactor in a heartbeat. Obama gives free handouts to his army knowing that they will turn against the hands that feed them. Your a liberal nutcase. No more help coming your way.
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Leerm
Posted on February 26, 2013 at 11:23amIs Greece so broke that they can not get blood out of their own people?
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DougHuffman
Posted on February 26, 2013 at 8:44amI sought a measure of broke-ness in the article, fruitlessly. NYC has people sleeping on heated air vents.
The Red Cross is not an honest broker – of blood, blood products or political power.
What is a dose of platelets worth? ARC banned legally armed donors in a surfeit of political correctness – while arguably allowing many disqualifying medical conditions – not least HIV.
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RANGER1965
Posted on February 26, 2013 at 9:11amIt’s actually a good measure of brokeness. I realize Mr. Seidl was trying to say, “Hey they’re so broke they can’t even afford the blood they need!”
And this may or may or may not be true. Perhaps the Greek goverment agency in charge of that is being restructured and didn’t pay it’s bills on time. Perhaps the organization is being done away with entirely and another will be taking it’s place. All possibilities in the chaos that is Greece right now.
However it is also equally likely that they do not have the money, and there is no better a measue of a nations “brokeness” than it’s dealings with “smaller” foreign vendors.
A country can do wonders with currency manipulation, trading favors, and holding off the crunch time with it’s own internal vendors. “Well we can’t afford to pay you right now, but HEY! we’ll give you a tax break of X amount next year..or Hey! we’ll put you at the top of the contractor list for the next project.”
A country can also hold off huge foreign institutions like bank conglomerates, using a combination of political power, and promises.
But the real “nut cuttin’ ” (as my dad always said), occurs, is how a nation deals with the smaller foreign vendors.
They have no incentives to offer them, no power over them, it’s all about real money now. It’s a dark portent for Greece.
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The Big Mick
Posted on February 26, 2013 at 9:28amRANGER, forgive me if this is a repost.
Did you ever run my “Big Mick Pledge for Candidates” through your 1-10 Real Conservative to False McCain spectrum? That was you wasn’t it?
I’ve reposted it over on the “Anarchy to Totalitarianism–Political Spectrum” thread, page 2 most of the way down.
Be interested in your feed back as to overlaps and contrasts.
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RANGER1965
Posted on February 26, 2013 at 12:23pmI responded to your post as requested Big Mick
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RJJinGadsden
Posted on February 26, 2013 at 8:43amMany of Greece’s vampires will start to migrate to other countries to siphon off even more lifeblood.
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objectivetruth
Posted on February 26, 2013 at 11:32amActually Terror cells have the disease Thalsemia on the rolodex for torture purposes.Its one of the ways they cover their tracks.Its also how they hide behind their targets.[Impersonation style ID Theft].It causes the target not to be able or willing to donate blood or plasma.Another one of the many ways they attempt to forcefully convert while remaining hidden.They positively love all cronic diseases.It allows them to stay glued to their target until conversion or death.Every once in a while one escapes the backdoor hidden clutches.
Its also used a cover for introducing foriegn substances into the body in order to produce sepsis.That way the death seems natural.Another one of their all time favorites is to use a regular plasma donors scar marks and claim its from drug use.They almost always go out of state to pull this one.Florida is a favorite state for them to pull this one.They have incredibly lax laws allowing for out patient commitment for drug use.Extortion and bribery of three people can get it done.They get really mad when the corresponding state won’t adhere to a treatment plan the individual doesn’t need.They then will usually try to push it throught the backdoor with a hospital that allows special justices and commitment through the hospital rather than the courts.It is supposed to be only for inpatients.They have been known to bribe someone to go into the hospital under their targets name.ID Theft of the highest order.
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Zipit
Posted on February 26, 2013 at 1:57pmRJJ! Can you say “CAL”!
Objectivetruth! WTF
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naughtycal
Posted on February 26, 2013 at 8:41amComing to America
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mikem1969
Posted on February 26, 2013 at 8:50amIt is already here thanks to the Obama ghettoization of America.
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Outlaw_Josey_Wales
Posted on February 26, 2013 at 9:53amAmerica could be at the start of a double-dip recession. High national debt, high unemployment, interest rates at all time low, personnel wealth down 40%. The double-dip recession could turn into the greatest depression. The economy is slowing, there is almost nothing the FED can do, they have run out of options. We could very well be on are way of becoming Greece. Sadly, this is what the White House wants, this will be a major step in converting the United States to a socialist type government.
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lel2007
Posted on February 26, 2013 at 8:39am“the Red Cross says it is cutting its supply of donor blood to Greece because the country has failed to pay its bills on time.”
KEEP THIS IN MIND THE NEXT TIME the Red Cross solicits “charitable” donations.
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woodyee
Posted on February 26, 2013 at 8:38am“Successive tax hikes and state spending cuts have pushed unemployment up to 27 percent…”
Successive TAX hikes + State Spending Cuts? Those spending cuts must refer to LAY-OFFS; otherwise, it doesn’t make sense.
Anyway you slice it, TAX HIKES do NOT equal Employment.
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BLAZE-READER1
Posted on February 26, 2013 at 8:55amUmm, sorry but tax hikes absolutlety does mean higher unemployment. When a business has to pay higher taxes, it is often forced to layoff employees in order to maintain profit. Some will even go out of business. What do do think happens to the employees when this happens? They become unemployed. What makes you think businesses can keep paying higher and higher taxes and still stay in business?
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huey6367
Posted on February 26, 2013 at 8:38amI dated a girl the other night who wants to travel to Spain. She thinks her visit may help out that countries financial woes. No, it is Spains socialistic government that is the financial problem – not tourism. She is what I would call an uniformed voter. I won’t be seeing her again.
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The_Fifth_Column
Posted on February 26, 2013 at 9:58amYour right about her. Please don’t breed with these people!
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The Big Mick
Posted on February 26, 2013 at 8:37amLook for a New Wave of Red.
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hunter1riley
Posted on February 26, 2013 at 8:37amBoy, I’m glad this could never happen to the U.S. Because, you know, the government and the Keynesians have said “we aren’t Greece”.
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ZAP
Posted on February 26, 2013 at 8:53amWe don’t have a spending problem,we have a debt problem…..buHA HA HAAAA
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