Greece: Drowning In Debt!

Posted June 29th, 2015 by Iron Mike

The next time you hear glib-talking Obama lie to you about our National Debt,  think carefully how Greece allowed itself to slip into bankruptcy.
Greece drowning in debt
There is almost no manufacturing industry in Greece.   When was the last time you bought anything that was stamped “Made in Greece”?   For 60+ years the Greek economy has relied on tourism – Europeans and Americans.

Then things got tough as Europeans and Americans couldn’t afford lengthy and expensive vacations. Tourist money began to dry up…

…just as Greeks began to reach early retirement age…from their government jobs.

The crisis was decades in the making.  At one point some 40% of working Greeks worked a government job.  Ferry boats ran to every island – some 18 hours a day,  some 24 hours a day, – often empty, but with full crews, – government crews!

And for years they ignored a growing illegal immigrant problem – illegal Muslim refugees from the Middle East and North Africa.  They’re sitting on a Muslim time bomb…

For comparison Greece has a $242 Billion GDP [roughly $21,635 per Greek] = more than Oregon, but less than Louisiana.

By contrast, today in the USA,  1 of every 10 working Americans works a government job – teachers, firemen, police, town, city, state, federal employees, university professors, and our military…. Most of these – and their families – vote Democrat.

So you 9 people working in the private sector are supporting them, – and paying for their eventual pensions.

AND you private sector workers are ALSO covering the welfare load, and the illegal immigrant load.

RESULT?  We’re in debt up to our EARS in debt – $18.285 TRILLION of debt – and we’re borrowing money from the Chinese to pay for it.

Debt Clock  $18 Trillion

Today as a taxpayer – you owe the federal government over $154,000 as your share of that massive debt.

Don’t expect those non-working EBT-carrying Democrat welfare layabouts to kick in a dime.  But they will keep voting for free stuff….

But DO check the Debt Clock for what you owe to your home state in state debt.

REMEMBER:   E-V-E-R-Y manufacturing job the Democrats manage to chase off-shore to India and China is one less private-sector taxpayer here to help pay down that debt.


The Greeks keep hoping that Europe’s hardest working and most money-wise country will bail them out – yet again. But the Germans have become very reluctant to keep dumping fresh money into Greece’s bank account, – when the Greeks won’t tighten their belts, – i.e. trim back their generous government pensions.

And the Greek government is scared to trim those pensions, – lest the pensioners begin to riot and burn the towns.

Greek Riots


If the Germans won’t bail out the Greek Socialists, – who will?

The Americans?  The Russians?  The Chinese?

The Russians might – short term, – in exchange for some air and naval bases. That would be a lethal stab-in-the-back to NATO and the US, – with a Russian naval base in the heart of the Mediterranean. But the Russian economy is teetering too….

Which is EXACTLY why the Chinese may come to the rescue.   A set of Chinese naval and air bases in Greece – would fully neutralize the Russian Black Sea Fleet, – keeping it bottled up and useless.

And it would poise a lethal threat to our Mediterranean Fleet.   Our super-carriers would be nearly neutralized by just a handful of small Chinese diesel-electric subs and torpedo boats operating in wolfpacks.

Our ability to influence events – even to rescue US embassies anywhere in the Middle East and North Africa would be gone.

Is this the CHANGE Democrats had hoped for back in 2008 – just 7 short years ago?

2008 Change

Do Democrats feel better – more smugly satisfied; – with their nation more in debt,  less respected,  and more helpless…and led by a compulsive liar?

Patriots, you should be stockpiling gold, silver, guns, ammo, food, and seeds.

Oh,  somehow you thought Gay Marriage, Global Warming, and ObamaCare were our biggest problems – along with the Confederate Flag?

Nah!  Those are just their DISTRACTIONS!

4 Responses to “Greece: Drowning In Debt!”

  1. Muriel McGrann

    This should wake up all the RINO’s and put the Liberal Demo-rats to sleep.

  2. Tom Gilroy

    There is another serious problem in Greece, they just don’t pay their taxes. The two Mediterranean countries with the lowest taxpayer participation rate are Greece and Italy, both socialist countries with generous but unfunded government pension programs. Both countries have huge underground economies which also has a negative impact on tax receipts. Look for the EU to bail out Greece, they can’t allow them to fail because this would threaten the EU itself.

  3. Walter Knight

    In 2012 the governments of Europe bailed out their private sector banks at 50 cents on the dollar for loans to the Greek government. Now, it’s just European governments that hold the debt. Like most governments, they don’t want to admit they made bad loans at tax payer expense. Too bad, so sad, you did it, own it.

    Greece is not going to reform it’s spending, welfare, and Muslim immigration policies. It will take civil war and blood-letting to effect change because the cart has already been tipped over. Greece has been lost.

    The Greek mess is only important to America because what happens to socialist Europe is a peek into the future of what may happen here if we keep electing liberal Democrats. Watch, bankrupt Puerto Rico will be making the news, soon.

  4. Varvara

    Greece has no manufacturing. Greece has a tourist trade, olives, olive oil and wine. Boutari is the main winery and they also have Metaxa and Ouzo.

    Greek men don’t marry until their mid to latter 30s. They live at home with momma. They build a room onto momma’s house and very seldom finish it. They don’t pay taxes on the addition until it is completed. They bring home a wife and they have some ‘privacy’ in the addition.

    Also, the Olympics cost them severely due to the unions, especially building new subway additions.